Chile has launched an arbitration process against US-based miner Albemarle for allegedly underpaying royalties on its sales. The Chilean government is asking for $15 million in payments for 2020. The method of calculating the commission Albemarle paid to Chile was incorrectly used last year, which meant it had paid around $44 million, short of what he said should have been around $60 million. The Chilean government hopes to handle this agreement with Albemarle in good faith.
In 2020, the unemployment rate in Chile reached 10.7%, which is 3.5 percentage points higher than in 2019. For women, this indicator grew 2.9 percentage points and reached 10.9%, while for men it increased by 3.8 percentage points, reaching 10.5%, reported the National Institute of Statistics.
The Servicio de Evaluación Ambiental (SEA) approved almost $18 billion in investment projects in 2020. Almost 60% of this amount went to the Metropolitan and Antofagasta regions. $6,008 billion correspond to projects located in the Metropolitan Region. In Antofagasta, 46 projects were approved, many of them linked to renewable energy.
Chile is looking to attract investors in the Middle East and Asia for green hydrogen projects ranging from ammonia to carbon neutral gasoline. A foreign ministry delegation will visit Riyadh next week to sign a Memorandum of Understanding with the Gulf Cooperation Council (GCC) in anticipation of negotiations on a free trade agreement. Chile is looking to expand agricultural exports to the region and promote green hydrogen and infrastructure investment opportunities, targeting sovereign wealth funds in particular.
Dairy farmers are experiencing a complex situation due to the lack of rainfall in Chile, especially in areas located in the most important region for the industry: Los Lagos, which contributes 52% of Chile's milk production. A survey conducted by Agrollanquihue members depicts that between Puerto Octay and Purranque, as far as Los Muermos and Puerto Montt, milk production has fallen by between 15% and 25%. According to the National Federation of Milk Producers (Fedeleche), milk production could fall even higher.