Highview Power has entered into a joint venture agreement with Energía Latina S.A.-Enlasa to co-develop giga-scale cryogenic energy storage projects in Chile and other Latin American markets. The joint venture, named Highview Enlasa, will help to open Latin American energy markets to baseload renewable energy potential. Highview Power’s long duration energy storage system are equivalent in performance to thermal and nuclear power.
The Chilean National Economic Prosecutor (FNE) has granted approval to nine companies national maritime cargo freight to establish a joint venture to develop a platform blockchain. The platdform will be called Global Shipping Business Network (GSBN). Its objective is to handle all processes related to maritime cargo such as the issuance of documents and the dispatch of cargo, among other services. It is also expected that the solution will be offered to other companies in the sector and not only to those involved in its development.
Shares of Banco Santander-Chile shot up 5.7% during mid-day trading on Wednesday. The company traded as high as $14.92 and last traded at $14.91. 335,246 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 514,716 shares. JPMorgan Chase & Co. upgraded shares of Banco Santander-Chile from a “neutral” to an “overweight” rating. TheStreet downgraded shares of Banco Santander-Chile from a “c” to a “d+” rating. Zacks Investment Research downgraded shares of Banco Santander-Chile from a “hold” to a “sell” rating.
Copper rose to $7,000 a tonne for the first time since June 2018, helped by hopes of a US stimulus deal, strikes at Chile's mines, expectations of a healthy demand in China and a strengthened yuan.
Anglo American PLC has reported a 24% increase in mineral production in the 3rd quarter compared to the 2nd and is currently operating at roughly 95% of its normal mining capacity as some COVID-19 measures still remain in place.
Juan Andres Ferrari, Vice President of ACF Global Sourcing in Chile said that Chile is going through some uncertain times due to the higher transportation costs. He also warned that there could be a gap in fruit supply out of Chile this coming season, starting November and December, with reduced and highly priced fresh produce. However Mr Ferrari says the severity will depend on the changing government regulations of the importing countries.