Altiplano Metals announced that it has reached a promissory agreement with SBX Chile to purchase a mill and processing facility to support its Farellon mine in northern Chile. Altiplano said the deal involves the purchase of crushing and grinding equipment and a flotation plant with enough capacity to process 5,000 tonnes/month of production from Farellon.
Drilling at Tesoro Resources' El Zorro project in Chile has shown the presence of wide gold zones with intercepts up to 176.5m in length. First assay results from the current drilling programme at the Ternera prospect cover three holes and part of a fourth. The results, for the three holes, include one intersection from Hole 29 over 176.5m at 0.85 grams a tonne gold, with mineralisation beginning at 29.5m downhole. Hole 31 struck mineralisation from 72m, the intersection over 54m at 1.69g/t gold. A third hole returned 26m at 0.6g/t gold, with four higher grade sections and the hole finishing in mineralisation.
The agency Moody's lowered Chile's credit outlook from 'stable' to 'negative', due to greater risks to the country's fiscal strength amid the impact of the coronavirus pandemic. However, the agency maintained its rating at A1 supported by still strong fiscal and debt profile support, which mitigates the effect of the shocks in the economy of the world's largest copper producer.
Banco Santander Chile launched its new digital debit card, available to all of its clients with a debit card linked to their current account, Cuenta Life, simple debit account, electronic checkbook and university accounts. This will enable to shop and pay through the internet or in mobiles apps, without the need to have a credit card.
Falabella delivered its results for the second quarter of 2020, it reported losses of $157 million (CH$128,807 million) compared to the same period last year, when profits of about $124 million CH$98,284 million) were recorded. The national retail company reported revenues of $2,140 million between April and June of this year. This figure represents a decrease of 24.7% compared to last year.