Chile's GDP shrank 9.1% in the third quarter of 2020, compared to the same time period in 2019. According to the Central Bank, the reason for the decline is due to the economic effects of the COVID-19 pandemic. However, the GDP rose 5.2% compared to the second quarter which show signs of a slow recovery.
Atria Energia, through Los Maitenes Solar SpA, has secured the environmental approval for a 66 MW solar photovoltaic (PV) park in the Santiago Metropolitan Region. According to data submitted to the Chilean environmental evaluation service (SEA), Atria Energia plans to invest $44 million to install the Parque Fotovoltaico Pirque Solaris. The PV park will consist of centralised inverters and a total of 160,160 monocrystalline modules, with capacity ranging from 415 W to 450 W.
Chilean Metals Inc. (CMX) has started phase 1 of drilling at its Tierra de Oro project in the third Region of Atacama. The 5,675 hectare project has several geological areas of interest CMX will be exploring following an AI analysis generated by Windfall Geotek (WIN). The Phase 1 program is to consist of 1,500 metres of core drilling is expected to be completed by mid December2020, and assays are expected to be received in mid to late January 2021.
Parque Arauco S.A announces that for the fifth consecutive year, it is the only Chilean real estate company in the Emerging Markets Dow Jones Sustainability Index (DJSI), Dow Jones Sustainability Chile Index (DJSI Chile) and Dow Jones Sustainability MILA Pacific Alliance Index (DJSI MILA). The DJSI is one of the most rigorous and well respected indices in the world. Its methodology independently evaluates more than 7,300 companies, from 60 industries in more than 40 countries.
Sociedad Química y Minera de Chile (SQM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors. Three other investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.42.