The good pace achieved so far by the vaccination process in Chile is causing GDP growth forecasts for this year to be revised upwards. An analysis by Econsult and ASIMET, raised the growth projection for the country to around 6%, and that of the metal-mechanic metallurgical industry to around 8%.
The Minister of Economy, Lucas Palacio, announced the launch of an aid plan for the tourism, art and culture sectors that includes a first subsidy of Ch$50 billion (almost $70 million) for tourism and Ch$5 billion (almost $7 million) for the culture and art sector. This first subsidy will cover the months of February and March.
Global miner BHP said it expected to hit full capacity production following the expansion of its Spence copper mine within 12 months and be producing 300,000 tonnes per year up until at least 2026. BHP has built a new, $2.46 billion concentrator plant that can process 95,000 tonnes of raw material per day, extending the useful life of facility in northern Chile by more than 50 years.
Michelin has announced to invest in the construction of its first tyre recycling plant. The tyre manufacturer has invested $30 million for the construction of a new generation tyre recycling facility in Chile. Michelin has tied up with Swedish company Enviro which has developed a patented technology to recover black carbon, pyrolysis oil, steel and gas from end-of-life tyres.
Sonnedix, the global solar independent power producer, has completed the construction of one of its largest solar photovoltaic (PV) plants to date: the 170 MW Sonnedix Atacama, located in the Atacama Desert, Chile. Construction of the solar plant, located in the Atacama Desert in the commune of Pica, began in June 2019. On 30 January 2021, Sonnedix Atacama started injecting energy into the Chilean National Electric System.