UK Research and Innovation (UKRI) is investing $26.5 million for research into understanding the impacts of plastic pollution in developing countries. is supporting five projects that include partnerships with researchers across 11 countries: China, Chile, Egypt, Ecuador, India, Indonesia, Peru, Malawi, Sri Lanka, Tanzania and Vietnam. The research projects will draw upon: arts & humanities, economic & social, engineering, physical, environmental and life sciences, to find ways to mitigate the impacts of plastic pollution.
Chile has announced a new two-tranche local currency bond offering that is Euroclearable and will be sold to both local and international accounts. Chile has appointed Citigroup, Santander and Scotia Capital, to lead the transaction which will comprise 2028 and 2033 bonds. Together they are expected to raise around $1.8 billion.
SQM said it continued to boost sales of lithium even as low prices battered profits, prompting the company to announce a further expansion by 2023. SQM said it had sold 17,700 tonnes of lithium in the third quarter, a 56% increase from the same period the previous year. SQM's net income plunged 97% year-on-year to $1.7 million in the quarter, dragged down by low prices and a one-time $62.5 million settlement fee in a class action lawsuit.
The government estimates that the second 10% withdrawal would have a maximum fiscal cost of $2.154 billion at present value. The minister of finance, Ignacio Briones, said that the cost may be less depending on the total amount of withdrawn money that is reimbursed.
Joyvio Group, owned by Chinese computer giant Legend Holdings, has agreed to purchase a $167 million perpetual bond issued by its arm that acquired Chilean salmon farmer Australis Seafoods. The bond follows a cash injection last month that increased Joyvio's share in the firm from 16.2% to 46.1%. The bond and cash injection come amid heavy losses at Agri-Joyvio, which acquired Australis Seafoods for $922 million in 2019.