ECLAC projects a -7.9% decline for Chile’s economy

The pandemic has not been brought under control in Latin America and the Caribbean, which lead to the region's GDP decreasing by a historic 9.1% in 2020 and raising the unemployment rate to 13.5%, reported by ECLAC. As for Chile, the United Nations agency estimated a -7.9% decline for the local economy, compared to the 4% estimated in April. This record is more pessimistic than the Central Bank (-7.5%) and the IMF (-7.5%).

Kinross Gold reports a 25% increase from its 2019 year-end mineral reserve

Kinross Gold Corp. reported a 25% increase from its 2019 year-end mineral reserve estimates after releasing a pre-feasibility study for its Lobo-Marte project in Chile. The study estimate includes total life of mine production of approximately 4.5 million gold ounces, with an average all-in sustaining cost of sales of $745 per gold ounce within a 15-year mine life.

Workers at Antofagasta’s Zaldivar copper mine in Chile enter Government mediation

Chile's Antofagasta and unionised workers at its Zaldívar mine entered into mediation with the government in a last-ditch effort to stave off a strike amid a coronavirus outbreak in the South American nation. Workers at the mine voted in favor of a walk-off late last week after rejecting a new contract offer. The company has agreed to continue to dialogue. A period of government mediation will run through July 22, according to the union.