The Constitution Commission of the Chamber of Deputies approved the constitutional reform that allows the Central Bank to buy and sell debt instruments issued by the Treasury in the secondary market on the open secondary market. With this, it will be possible to expand the Central Bank's tools to ensure the normal operation of internal and external payments, by providing liquidity through the purchase of sovereign bonds indirectly that have already been traded.
Copper prices declined as rising production in top producing countries, Chile and Peru, pressures prices that rallied to multi-year highs last month. The most-traded September copper contract on the Shanghai Futures Exchange closed down 0.7% at $7,386.68 a tonne. London and Shanghai copper contracts both hit a two-year high last month, partly due to expectations of supply disruptions in Chile and Peru amidst COVID-19 lockdowns. However, Chilean firm Codelco reported a 4.7% rise in January-June output.
Marimaca Copper Corp. is pleased to announce the results of the Preliminary Economic Assessment (PEA) for the company’s flagship Marimaca Copper Project located in northern Chile. The study confirmed that the project has the potential to be a very low capital and operating cost copper producer. The results show $524 million post-tax real NPV8 and 33.5% IRR. The company will host a webinar to present the results of the study on Wednesday the 9th of September 2020.
Andersen Global entered the Chilean market through collaboration agreements with two Santiago-based firms: law firm Chirgwin Peñafiel and tax firm SPASA Consulting. The firms are in close partnership with each other and add depth and breadth to the organization’s Latin American platform as it continues its steady expansion. Andersen Global Chairman and CEO Mark Vorsatz said, “Chile is a significant region to our expansion plans in South America and the firms’ synergistic strategy, along with their subject matter expertise and knowledge of the market will strengthen our organization’s global platform.”
Chile’s Emiliana has revealed that its Adobe range is now the best-selling organic wine in Chile, with a 59.9% market share. The world’s largest organic winery said that between May 2019 and May 2020 Adobe increased its market share by 5.4%. Emiliana’s Adobe range is now sold in 35 countries.