Despite COVID-19, pension funds perform positively in 2020 with returns on the range of 0.74% to 4.11%

Despite the impact of COVID-19, all Chilean pension funds managed to perform positively in 2020. So far in 2020 (until 27 December), positive results have been recorded for all the multifunds. The A and B funds recorded gains of 0.74% and 2.53% respectively, while the C fund showed a variation of 3.56%. On the other hand, D income 3.49% and E 4.11%.

STI will invest $44.3m to extend its concession in the port of San Antonio to 2030

San Antonio International Terminal (STI) concluded the negotiation process and agreed on a new investment plan with Puerto San Antonio that will enable it to extend the concession for five more years. The award will continue until 2030 and about $44.3 million will be invested in improvements. The agreement considers replacing the construction of an esplanade which will allow improvement of ITS conditions in three axes (quay, yard and gate), increasing capacity by nearly 30%. Investments are expected to start in 2021.

Chilean environmental court approves agreement plan between Codelco and the government

A Chilean environmental court approved an agreement between state-owned copper miner Codelco and the government to remedy sustained water overuse by its Salvador mine. The government said that Codelco had overdrawn water from the northern Pedernales salt flat without considering its regeneration capacity. Codelco will now be required to recharge the Pedernales aquifer, conduct water studies both in the salt flat & river basins around it, establish better dialogue with parties in the area and restore 60 hectares of high Andean plains.