The board of Chile’s state-owned copper miner, Codelco, has approved a budget of $1.383 billion for the overhaul of its Salvador mine. According to the company, construction for the Rajo Inca project that will convert Salvador from an underground mine to an open-cast one will start this year. This decision is a result of a Chilean environmental court approving a $56 million action plan agreed between Codelco and the government to remedy 36 years of Salvador overusing water from the northern Pedernales salt flat.
According to Cochilco, Codelco saw production rise 7% year-on year-in November to 166,100 tonnes. Meanwhile, production at BHP's Escondida fell 12% to 90,800 in the same period. Collahuasi produced 48,200 tonnes, a 15% year-on-year decrease.
The National Automotive Association of Chile (ANAC) released the final balance of the automotive market in 2020. Thus, given the economic impact of the pandemic which affected both demand and supply, sales of new cars fell by 30.6% compared to 2019. This is the worst fall since 2009. The last quarter of the year had a year-on-year growth of 12.3%. 2020 closed with sales of 258,835 units of light and medium vehicles.
According to the Weekly Thermometer of the National Chamber of Commerce (CNC) Studies Department, from 21-27 December 2020, the sector recorded a 30.9% increase over the same dates in 2019. This figure is the result of many factors. First, 24th of December in 2019 was a Tuesday and in 2020 it was a Thursday, which meant 2 more days of shopping. Secondly, the second withdrawal of 10% was an impulse to increase consumption at Christmas.
Spot prices for Chilean farmed salmon destined for the US and Brazil both saw another sharp rise in week 52 of 2020. US-bound trim D, freight-on-board Chilean salmon fillets to the US saw prices lift by $0.33 to $4.69 per pound. Prices for Chilean head-on, freight-on-board, 10-12s shipped to the Brazilian market also saw another lift, rising by $0.42 to $5.49 per kilogram in week 52.