BancoEstado reopens more than 30% of its branches

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.

Chile’s trade exchange decreased by 12% in 2020

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 increased 0.1% in August

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 inks definitive option agreement for its Nord project in Chile

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.