After President Piñera passed the law that allows AFP affiliates to withdraw their 10%, the Government announced that the process will begin on December 10th online (at least during the first two weeks). The date for the deadline is December 17th, which allows some payments to be received before Christmas.
Chile's Central Bank said that it will intervene to mitigate a possible uptick in market volatility with a second withdrawal by citizens from their privately held pension funds. The bank said that the process would result in "an important liquidation of assets" by the Pension Fund Administrators (AFP) to comply with the payments. As a result, it said it would reopen programmess deployed during the first withdrawal from the pension funds to buy up to $16.250 billion in shares, term deposits and securities that could be offloaded by the AFPs.
San Javier I, a new photovoltaic plant owned by Cox Energy America, will have an installed power capacity of 3 MWp. The company's new energy asset will come into operation at the end of the second half of 2021. The company has contracted the Rising Sun company for construction and for the supply of photovoltaic panels to the JA Solar firm, which will supply 5,600 modules. The transformation centers and investors will be from Sungrow.
Previously, Chile bought about 6,808 tons of Paraguayan meat each month this year. However, in November meat shipments increased to 18,644 tons. The meat industry attributes this behavior to the reservations that importers from the trans-Andean country are making for the end of the year parties and for the holidays, taking advantage of the fact that prices have not yet shot up.
Copper developer Hot Chili has been granted a maritime concession to extract sea water some 60 km from its planned Costa Fuego copper/gold development, in Chile. The company said that the water rights represented a major step forward in establishing an infrastructure-ready major coastal copper development, which could leverage from a central processing and combined infrastructure approach.