The Ministry of Finance announced new tax measures, as part of initiatives to support SMEs and companies hit by economic crisis caused by the pandemic. One of these measures includes the extension of the suspension of Provisional Monthly Payments (PPM) during the months of July, August and September, for all companies that register a decline in gross income equal to or greater than 30% for the January-May 2020 period, compared to the same period last year.
The Chilean ministry of national assets has awarded land concessions for the development of renewable energy projects to 8 power producers, expecting around 2,614 MW of new capacity. The 8 power producers are: Enel Green Power Chile, Caldera Solar, Copiapo Energia Solar, Solarcentury Chile, Sonnedix Chile Holding, Solarpack Chile Limitada, Engie Energia Chile and EDF En Chile Holding. Based on the bids, the new projects will involve investments totalling US $2.536 billion.
According to data released by state copper agency Cochilco, Chile has managed to boost its production in the face of the outbreak, churning out 492,500 tonnes from its sprawling mines in May, a 1% increase over the same month the previous year. The country's output since January has risen 3.9%, to 2.4 million tonnes.
Spanish infrastructure builder Elecnor SA has confirmed its involvement in the construction of the 185-MW Cerro Tigre wind farm project in Chile. According the company, it secured the contract to deliver the full balance-of-plant (BOP) package for the project, including turbine installation and the construction of substations, transmission lines and other infrastructure. The project is promoted by Mainstream Renewable Power and is part of the Ireland-based developer’s 571-MW Condor wind and solar portfolio.
Tesoro Resources has started infill and extensional drilling at its flagship El Zorro gold project in Chile, with two rigs onsite at the high-grade Ternera prospect. Drilling is initially targeting Ternera and following up on previous intersections that include numerous intervals exceeding 100 grams per metre of gold.