Lithium Chile Inc. announced the completion of a definitive agreement with Summit Nanotech Corporation that will launch Summit Nanotech’s proprietary lithium extraction technology at one of Lithium Chile’s exploration wellsites. The original LOI was entered into in June 2020, whereby Lithium Chile and Summit Nanotech would collaboratively demonstrate the viability of the novel process for sustainable extraction of lithium.
Torq Resources Inc. announced that it has successfully acquired the option to earn a 100% interest in the Margarita Iron-Oxide-Copper-Gold (IOCG) project located in Chile, 65 kilometres north of the city of Copiapo. The property is located within the prolific Coastal Cordillera belt that hosts the world-class Candelaria and Manto Verde IOCG mines.
The National Institute of Statistics (INE) reported that the Consumer Price Index (CPI) recorded a variation of 0.2% in February 2021, below market expectations for inflation of around 0.4%. Inflation in the country accumulated an increase of 0.9% so far this year and registered a variation of 2.8% in twelve months, below the 3.1% recorded in January. Among the divisions with price increases were transport (1.2%), driven mainly by gasoline (2.7%) and new cars (1.9%), and housing and basic services (0.7%), where the variation of liquefied gas (5.3%) stood out.
Empresas Copec released the company's financial results for the sixth quarter of 2020. EBITDA for the aforementioned period reached $573 million, which in relation to the last quarter of 2019 increased 44.4%. In relation to the third quarter, it increased 22.4% due to an increase in fuel margins and a better performance in Arauco. In annual terms, a profit of $118 million was recorded. The result was $20 million higher than in the third quarter, due to higher operating income in the forestry and liquid fuels area, partially offset by lower operating income in Abastible.
Chile has increased shipments of fresh cherries to India this season. Chile has exported 255 tons of fresh cherries to India, according to ASOEX data. The main varieties shipped were the Regina (37%), Lapins (19%), Santina (11%), and Bing (7%) varieties. The Cherry Committee, ProChile and the Chilean embassy in India carried out the first promotional campaign for Chilean cherries in India. The promotion was focused on promoting the presence of this fruit in India, as well as its health benefits.