Chile’s manufacturing output jumped 6.2% in October, government statistics agency INE said. Chile saw its copper output fall 0.2% to 492,761 tonnes in October, according to the agency. The South American mining giant has nonetheless managed to boost its total production thus far in 2020 by 0.4%, to 4.8 million tonnes, despite the pandemic.
Hot Chili has raised $18.8 million in an institutional placement to fund payment of the Corteda copper/gold discovery and to accelerate drilling work. The company said that it had arranged for the placement of 609.8 million shares, at an issue price of 4.2c each to sophisticated and professional investors. The placement will be made in two tranches, with the first tranche consisting of more than 597.8 million shares and the second of more than 353.9 million shares.
A union at Antofagasta Minerals’ Centinela copper mine in Chile rejected a contract offer from the company, paving the way for a strike at the small deposit. The president of the Distrito Centinela union said it planned to inform the company of its workers’ decision and await the start of the government-led negotiations. The Minera Esperanza union, the other of the mine’s two unions, began its own mediation process on Monday in an attempt to stave off a strike.
Banchile Inversiones has signed an agreement with BlackRock that will give the Chilean asset manager’s clients greater access to international investment opportunities. The deal allows Banchile access to BlackRock’s research and investment reports and teams to help run its international investment funds. The agreement also gives Banchile clients access to a broader range of iShares ETFs through its digital product platforms.
Tesoro Resources has completed a gradient array induced polarisation (GAIP) survey at the El Zorro Gold Project in Chile. 30 GAIP survey lines were completed to expand a previously surveyed area by 700 metres to the southeast and 700 metres to the northwest. Multiple chargeability anomalies and structural trends were identified, with a significant anomaly correlating to Tesoro's Ternera deposit. Results from the GAIP survey have highlighted additional undrilled targets to the east of Ternera. Detailed surface mapping and sampling is now underway with aims to drill the target zone in early 2021.