Kinross to invest $225 million in the La Coipa project in Atacama

Canadian miner Kinross Gold announced the reopening of the La Coipa project, moving forward with its phase 7 in the Atacama Region. The project, beginning with pre-stripping stage at the end of 2020, will have an initial capital investment of ca. $225 million and it is estimated that it will generate up to 700 jobs in the development stage and up to 1,000 during the year of maximum activity of operation. The project is expected to produce 690 thousand ounces of gold.

Transantiago deficit reaches $800 million in 2019 the highest in a decade

Red Metropolitana de Mobilidad (Red), Santiago de Chile public transport system formerly known as Transantiago, registered in 2019 a deficit of CL$ 607,118 million ($ 809 million), the highest since 2009. Affected by social unrest, operational revenues in Q4 fell 29% in relation to the last quarter of 2018, and costs fell 19%. Red is financed with the fees paid by users and with state funds.

Gold Fields launches $269 mln bookbuild to fund Chilean mine

Multinational gold producer Gold Fields will place new shares with a view to raising around $269 million in order to develop its Salares Norte silver-gold mine project in Chile. The share placing represents around 5% of the company's existing ordinary shares. Salares Norte is expected to have an average annual production of 450,000 ounces of gold over the first seven years.