Rio2 Limited announced that it has completed the strategic acquisition of Compañía Minera Paso San Francisco S.A. MPSF owns strategic mining infrastructure and facilities located adjacent to Rio2’s Fenix Gold Project in Chile. MPSF has been acquired by Rio2 for $1.5 million cash from Inversiones Alxar S.A. a subsidiary of Empresas Copec S.A., a large Chilean industrial conglomerate.
The Chile Asoex Citrus Committee expects citrus exports to increase by 6% in volume in the 2020 season, amounting to 353,000 tons. According to forecasts, the highest increase will be reflected by mandarins, with a variation of +24%, compared to the previous season, followed by clementines with +21%. However, oranges will decrease by 13%, while lemons will not have a significant variation.
DMC Mining Services says it is ramping up activity in Chile, after being awarded five new contracts at the end of 2019. One of North America’s premier underground contractors, DMC recently secured work at KGHM’s Franke and Sierra Gorda mines, in the Antofagasta region, in addition to a boxhole boring assignment at Codelco’s El Teniente mine, near Rancagua.
Consumer prices rose 0.3% over the previous month in March, easing from February’s 0.4% increase. According to the Statistical Institute, March’s result reflected higher prices for education and food, which more than offset lower prices for transport.
The International Monetary Fund (IMF) projects a drop of 4.5% in Chile. The Minister of Economy of that country said that hard months are coming, although he said that he trusts more in the projections of the Chilean Central Bank that foresees a contraction of 2.5%.
The Ministry of Labor has submitted a bill to the Senate that seeks to make it mandatory to postpone collective negotiations during the state of disaster and for 60 days after it is lifted, which should occur during the month of June. This is a result of the difficulties in facing these negotiations in the midst of the health emergency by COVID-19.