BancoEstado made the unprecedented decision to close all its branches throughout Chile after detecting a cyber attack in its operations. The president of BancoEstado, Sebastián Sichel, reported that 164 branches are open which means that more than 30% of the bank is operating, as well as almost 40% of the bank's savings. Sichel assured that he expects 100% of BancoEstado's branches to be open on Thursday.
According to a report by the Undersecretariat of International Economic Relations, between January-August 2020, Chile's trade exchange totaled $83,126 million, dropping by 12% compared to the same period in 2019. More than 84% of the drop in trade is explained by the decline in imports, which continued to decline in August with a decline of 22%. Meanwhile exports totaled $45,380 million, experiencing a fall of 3.9% in relation to the same period of 2019. As for exports in August, they totaled $5,421 billion, falling by 11% compared to last year.
Consumer prices in Chile rose 0.1% in August due to increases in clothing and footwear, as well as food, the government reported. In a month still affected by quarintine measures due to COVID-19, the National Institute of Statistics (INE) said that inflation advanced 2.4% in 12 months, in the lower part of the Bank's tolerance range Central, between 2.0 and 4.0%.
Mirasol Resources Ltd said it has now inked a definitive deal to option out its Nord project in Chile. It was signed with Encantada SpA, an affiliate of Mineria Activa, with more than $150 million in assets under management. According to Mirasol's CEO, Norm Pitcher, Mirasol has monetized its interest in a non-core project for up to $3 million cash payments and the creation of a new 2% NSR royalty on prospective exploration claims located near a development project.
Scottish aquaculture technology startup, Ace Aquatec, gained a foothold in the South American market by opening its first regional office in Chile which is led by regional manager Jose Luis Charpentier. Ace Aquatec recently won investment from Scottish tech duo, Chris van der Kuyl and Paddy Burns, as the fish stunner enters the next phase of expansion.