President Sebastián Piñera announced that the 2021 Budget will have a total expenditure of $73,234 million, which means a growth of 9.5% compared to this year's budget. It also incorporates an increase of 14.9% in public investment. The president said that this year's budget "will be the budget for employment and recovery in order to create jobs, meet the main needs of Chileans, reactivate the economy and put our country in full swing."
Johnson & Johnson has begun final stage testing of its COVID-19 vaccine candidate. The company will trial the vaccine with 60,000 volunteers from around the world including participants from the US, South Africa, Brazil, Argentina, Columbia, and Chile. Johnson & Johnson's vaccine joins candidates developed by Moderna, Pfizer and BioNTech, AstraZeneca and the University of Oxford in beginning the final stage of development.
ABB, working with TAKRAF, has completed commissioning and testing for the world's highest-powered gearless conveyor drive system, enabling continuous operations at Chuquicamata copper mine in Chile. Project management and engineering for the full electrical, control and instrumentation scope was led by ABB in Germany, with long spells on site in northern Chile to work side-by-side with TAKRAF to equip the site’s new underground operation with a large conveying system that overcomes an altitude difference of 1,200m and covers a distance of almost 13km.
Chinese company Tianqi Lithium Corp said it may not be able to make a payment of $1.88 billion on a loan obtained to buy a stake in Chile's Sociedad Minera y Química de Chile (SQM). The warning comes as lithium prices remain down, just two months before the repayment of the $3.5 billion loan signed with a syndicate of banks led by China Citic Bank. - expires at the end of November. Tianqi admitted that a payment default would affect its daily operations and said its assets and bank accounts could be frozen.
The restrictions imposed in Chile due to the pandemic have not impacted the deadlines for the Collahuasi copper mine to advance in obtaining the green light for its productive improvement plan to extend the useful life of the deposit, its chief executive said.