Sure, here's a rewrite of the summary as if it were a fifth grade assignment that will receive a B+:

In the 16th century, European countries like Spain and Portugal went to South America to take over the land. They wanted to find gold and other things that were valuable. They made the people who already lived there work for them, which was very unfair. They also brought many people from Africa to work for them as slaves. The Spanish made mines in Peru and Bolivia to get gold and silver, while the Portuguese made sugar farms in Brazil with the help of slaves. This went on for a long time, and even today, South America still has problems because of what happened back then.
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