Pension fund withdrawals reach $33.32 bn

As of 5 February, the pension fund administrators (AFPs) paid $33.32 billion for the first and second withdrawals of pension funds. According to the AFPs, 10.55 million applications were registered for the first withdrawal, of which 97.6% were paid, representing an outlay of $19.31 billion. For the second withdrawal, 7.41 million people applied and 95.1% were paid, i.e. the AFPs spent a total of $14.01 billion.

Nova Royalty Corp to buy existing royalty on Chile copper project for $16 mn

Nova Royalty Corp is set to acquire an existing royalty on Los Andes Copper Ltd's Vizcachitas project in Chile and that it had increased its convertible debt facility with Beedie Capital. Nova must pay $6.5 million in cash upfront on closing and up to $9.5 million in its shares, upon the achievement of certain project milestones. Closing of the deal is expected to occur by March this year.