According to Ciedess, based on data from the Superintendency of Pensions, in January positive results were shown for all multifunds. Types A and B recorded gains of 5.41% and 4.88% respectively, while Type C showed a variation of 3.59%. Type D and E has positive results of 2.53% and 1.69%. The monthly results of the A, B and C multifunds are mainly influenced by the return on investment in variable income assets, both nationally and internationally.
Chile produced 1% less copper in 2020 as total output fell to 5.73 million tonnes from 5.78Mt in 2019, according to Cochilco. Codelco increased its production 1.2% to 1.727Mt with gains at its Chuiquicamata, Salvador and Andina divisions. A number of copper operations experienced significant declines during the year, including Lundin Mining's Candelaria, which fell 14.9% to 94,800t.
Opdenergy announced the start of construction on a 104-MWp solar plant in Chile's Atacama region. The plant is estimated to require an investment of $90 million. The solar facility will consist of 239,580 PV modules. Opdenergy plans to develop a total of 1 GW in Chile in the next four years. Its local solar and wind project portfolio is estimated at more than $800 million.
Antofagasta Minerals recently became the first mining company in the country to join the Chilean Hydrogen Association (H2 Chile), an organisation that promotes the development of green hydrogen. This fuel reduces greenhouse gas emissions generated in chemical manufacturing and the use of fossil fuels. This is Antofagasta Minerals’ latest step towards producing copper in a more sustainable way and with fewer emissions. Zaldivar is already only using renewable energy and the other operations will all move to renewable energy by 2022.
The UK government is formally applying to join one of the world’s largest free-trade areas. UK membership would enhance trade with CPTPP nations, including Chile, by opening up new markets and opportunities for UK businesses. Trade between the UK and the three Latin American CPTPP member countries was over £7 billion (approx. $9.5 billion) in the final four quarters to the second quarter of 2020.