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BMW, Ferrari, VW cars use tungsten mined by terrorists

Bloomberg Markets is reporting that BMW, Volkswagen and Ferrari have been using tungsten ore sourced from Columbia's FARC rebel terrorists. The extensive story focuses on Columbia's illegal mining trade and calls into question the provenance of the rare ore that is used not only in crankshaft parts production, but is also found in the world's computing and telecommunications industry for use in screens.
The ore is mined by the FARC (Fuerzas Armadas Revolucionarias de Colombia, or Revolutionary Armed Forces of Colombia - People's Army), and exported to Pennsylvania, where it is refined. The refined ore is then sent over to Austria, where a company called Plansee turns it into a finished product. Now, it's important to note that we aren't talking about the world's supply of tungsten here. In 2012, Plansee's American refinery purchased 93.2 metric tons of tungsten, valued at $1.8 million. That's peanuts, with the entire Colombian tungsten mining industry producing just one percent of the world's supplies.
That doesn't make indirectly supporting FARC any more acceptable, though. BMW, VW and Ferrari are all committed to not accepting mineral supplies from the Democratic Republic of Congo, which is also in the grips of a guerrilla insurrection funded, in part, by illegal mining. The same commitment would figure to extend to Colombian mining, but as BMW points out, it's difficult for a multi-national manufacturer to know where every item in its supply chain comes from. A company spokesperson says as much, telling Bloomberg, "These few grams out of the billions of tons of raw materials passing through the BMW supply chain are of no practical relevance."

Ferrari cuts Toronto lawyer a deal to replace his flooded California [w/video]

A Ferrari might be the last vehicle you'd want to be driving when streets are submerged in water, but Toronto lawyer Howard Levitt was unfortunate enough to be behind the wheel of his $200,000+ Ferrari California when the tunnel he was driving through started to fill up. It was July, when parts of the Canadian city were flooded, but he was determined to make his flight to a court appearance the next day. So Levitt abandoned his metallic blue supercar in the middle of the street and took a cab to the airport, the National Post reports.
The car subsequently was totaled, and the insurance company covered the damage, so after completing his court assignment (and a column for the Financial Post that was due the same day), Levitt began to search for a replacement for his California - driving his 1994 Dodge Viper in the meantime. He decided on a 2014 California in the same metallic blue to replace his 2010 model. When he approached Ferrari to put in an order, the Italian marque was waiting for him, having heard of his mishap. The company offered him a "very generous" deal on a 2014 model; an undisclosed amount less than the after-options retail price of around $300,000.
The new Ferrari is expected to be delivered to Levitt in November, and we can only hope another flood doesn't catch him off guard. We're not so sure Ferrari would offer him another "very generous" deal. Feel free to watch the short video below, despite its rather static nature, which we included to precisely show the sad fate of Levitt's fallen California.

Ferrari 400 Superamerica Aerodinamico fetches record $4.4M

RM Sotheby's moved an impressive $38.6 million in vintage metal at Amelia Island this year. And the top lot was the sleek classic you see here. It's a 1962 Ferrari 400 Superamerica LWB Coupe Aerodinamico, and its $4.4 million final tally is a record for its type. That's well past what it was estimated to sell for, with pre-sale expectations ranging from $2.7-3.3 million. Sports Car Market records that the previous high-water mark stood only a few hundred grand less at $4.07 million, achieved by a similar example sold by Gooding & Company last January. This particular example was the show car at the 1962 Turin Auto Show and has belonged to Erwin Goldschmidt and his family for the past four decades. As much as it sold for, of course, the Superamerica wasn't the only lot on the docket at RM Sotheby's Amelia Island sale. Other top sellers included a 1984 Ferrari 288 GTO and '68 330 GTS that sold for $2.6 and $2.2 million, respectively, a Pagani Huayra that topped $2 million, and a Bentley R-Type Continental Fastback that went for a high bid of $1.8 million. There was even a highly sought-after 1985 Ford RS200 Evolution that found a new home for $522,500 and a 2003 Aston Martin DB AR1 that went for $363,000. Check out the action in the high-resolution image gallery above, the videos below, and the press release at bottom for the full recap. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: BEST-OF-CATEGORY AUTOMOBILES DRIVE RM SOTHEBY'S $38.6 MILLION AMELIA ISLAND CONCOURS D'ELEGANCE SALE · RM Sotheby's generates $38.6 million in sales with 89 percent of all lots sold at its 18th anniversary Amelia Island, Florida sale · Top seller: 1962 Ferrari 400 Superamerica LWB Coupe Aerodinamico surpasses estimate at $4,400,000 to set new auction record · Bidders from 20 countries spur lively bidding contests, propelling numerous lots to above-estimate prices · Complete results from RM Amelia Island available online at www.rmsothebys.com · RM Sotheby's continues its global calendar of events in Monaco, May 14, during the Grand Prix Historique de Monaco weekend AMELIA ISLAND, Florida (13 March, 2016) – RM Sotheby's, the official auction house of the Amelia Island Concours d'Elegance, celebrated its 18th anniversary sale in Amelia Island yesterday (March 12) with $38,685,100* in sales and 89 percent of all lots sold.