More than 70 economic guilds call for a state of emergency in Biobío and La Araucanía due to violence

75 trade unions from different economic sectors called for a state of emergency in part of the regions of Biobío and La Araucanía, amid the series of violent incidents that have occurred in the area in recent months. The associations warn that there is an absence of the rule of law in the southern macro-zone that is preventing thousands of families from being able to work and live in peace.

Industrial Production Index declined 2.4% year-on-year in January

The Industrial Production Index (IPI) fell by 2.4% year-on-year in January 2021, due to the negative impact of the three sectors that comprise it, reported the National Statistics Institute (INE). The Manufacturing Production Index (IPMan) was the most influential in the result, registering a 4.4% drop compared to the same month of the previous year. The Index of Electricity, Gas and Water Production (IPEGA) fell 1.6%, while the Mining Production Index (IPMin) showed a year-on-year decline of 0.4%.

Trade Activity Index rose 4.3% year-on-year in January

In January 2021, the Trade Activity Index (TSI) increased by 4.3% year-on-year. The result is explained by the increase observed in two of the three divisions that make up this index. Retail trade, except of motor vehicles and motorbikes (division 47) recorded an increase of 10.2%. Wholesale trade, except of motor vehicles and motorbikes (division 46) grew by 4.4% in twelve months.

New deal could see a hydrogen economy scaled in Chile and Singapore

Chile and Singapore signed a Memorandum of Understanding (MoU) to cooperate on green hydrogen that will see both countries collaborate on projects and initiatives to advance the deployment of hydrogen as an alternative energy source. Other opportunities include exchange of information and policies on the management and development of hydrogen-related technology and resources; establishment of supply chains for hydrogen and its derivatives; and strengthening of networks and partnerships on hydrogen.

Lithium Chile closes its $3.5 mn financing

Lithium Chile Inc. has closed its fully subscribed previously announced private placement of units of the Company for gross proceeds of $3.5 million and the 15% option was taken up for gross proceeds to the company of approximately $4.02 million. Each Unit is comprised of one common share of Lithium Chile and one common share purchase warrant.

Indian companies sell military equipment to Chile worth $18.7 mn

The Chilean Navy received an Anchor Handling Towing Supply and Standby Vessel (AHTSSV) ocean support vessel from India's Larsen & Tourbo (L&T) for a value of $11.5 million. India's Kanpur based MKU Limited has also executed a defence contract with Carabineros of Chile for 11,700 Ballistic Helmets with accessories worth $7.2 million. The Indian company is expected to sign a contract extension worth $2.1 million shortly.

Mining prepares for 37 collective negotiations with unions amid copper boom

Mining is preparing to hold 37 collective negotiations with unions in 2021 amid the international copper boom. International copper prices have so far risen by 18%, reaching $4.2 a pound on the London Stock Exchange, their highest price since August 2011. Collective negotiations will involve a total of 16,112 mine workers, according to data from the Mining Council.