Chile is hoping to make an achievement with green hydrogen, a clean alternative to fossil fuels that can be used in any time of day or night and in any weather conditions. According to Juan Carlos Jobet, Chile's Energy Minister, "Chile could be exporting $30 billion of green hydrogen. That's how much copper we export today." McKinsey calculates that global investment in green hydrogen could reach roughly $500 billion by 2030 and $2.5 trillion by 2050.
Month: August 2020
The National Institute state that unemployment in Chile has reached 13.1%
The national statistics institute stated that unemployment in Chile has reached 13.1%. Redundancy increased by 5.6% points in the May-July quarter contrasted to the same period in 2019. These figures indicate that over a million people are unemployed. While 8.1 million have been let go.
Chilean salmon farmer Camanchaca loses over 100,000 fish
Around 124,309 salmon escaped from a Salmones Camanchaca farm in Chile according to the country's National Fisheries and Aquaculture Service, Sernapesca. The occurrence involved one cage of 500 gram fish at Camanchaca's San Jose site in the Los Lagos region. Sernapesca is monitoring measures and contingency plans implemented by the company and will determine whether legal action should be taken.
Mowi Chile’s operational earnings and taxes came in at $13.9 mn for Q2
Second quarter earnings at Mowi's Chile operations more than halved due to sharply lower salmon prices as COVID-19 shrank demand and sent costs rising. Operational earnings before interest and taxes came in at $13.9 million, down 59% compared to last year.
Sale of empanadas falls 50% and the meat industry projects a 30% decrease
With the National Holidays close, the sale of empanadas has fallen by 50%, the meat industry projects a 30% decrease and tourism expects only 10% activity.
MSC completes the first export of Chilean clementines to China
The first clementines from Chile exported to China after the opening of the Asian market to Chilean citrus fruits arrived at the Port of Hong Kong in June on an MSC company ship. Chile is the second largest citrus exporter in the southern hemisphere. While the main destination has traditionally been the U.S., the opening of the Chinese market presents an incredible opportunity for Chile, as it offers an alternative to the country's agricultural industry and opens the way to a potentially significant boost for citrus producing regions to local level.
Aftermath Silver set for $9.56 mn placing, with gold bull Eric Sprott investing over $4 mn
Aftermath Silver Ltd is poised to bring in $9.56 million via a private placing, with resource investor and gold bull Eric Sprott investing over $4 million. The company intends to use the proceeds for drilling and other technical studies on the Berenguela Silver-Copper project in Peru, and the Challacollo and Cachinal Silver-Gold projects in Chile.
Chilean clementines increase by 3% in exports for the season
The clementine season has concluded in Chile registering a 3% growth in the exported volume compared to the previous season, totalling 51,792 tons, as reported by the Citrus Committee of Chile-ASOEX. The main destination market for these Chilean citrus fruits was the U.S. where 51,371 tons were shipped, a figure that represents more than 99% of total clementine exports.
Cencosud reports holding’s revenues fell 3.4% in second quarter of 2020
Cencosud reported its financial results for the second quarter of 2020, where it stated that the holding's revenues fell 3.4% compared to the same period last year. This fall is explained by the devaluation of the Argentine peso and the Brazilian real, in addition to the closure of stores and shopping centres as a result of the pandemic. The company also reported losses between April and June of $78 million.
Minister of Finance announces bill to imporove state procurement system
The Minister of Finance, Ignacio Briones, announced a bill that aims to improve the "transparency, competition and efficiency" of the state procurement system. This action is a response to the preliminary report "Market Study on Public Procurement" by the National Economic Prosecutor's Office. According to the report, there was a series of shortcomings - especially with regard to competition and transparency - in Chile's public procurement market, along with sliding several recommendations to improve the efficiency and operation of this.
