The IMF stated that the project for a third withdrawal of 10% of pension funds that is advancing in Chile's Congress is unnecessary, inappropriate and deteriorates the country's pension system. According to the director of the Western Hemisphere in the IMF, the organisation estimates "that a third withdrawal from the pension fund is not necessary and is not the appropriate vehicle to continue deteriorating a structural factor in the pension system."
In the last 6 years, Chile quintupled the capacity generated with solar, wind and hydraulic energy. The Ministry of Energy reports that as of January 2021, there are 6,335MW of power plants under construction. 94% of these plants will generate renewable energy. The vast majority are solar and wind, which according to projections, will be able to cover all the fossil generation that Chile has today in 2040.
The CAP group of companies will have a new president and a new board of directors, of which will be made up of three women. CAP announced an investment plan for $459 million for this year. 77% of this investment will go to mining, where the company is developing the Phase V North project in Minas El Romeral.
The Republic of Chile has successfully issued $1.5 billion of sustainability bonds. This is Chile’s first sustainability bonds issuance and first Formosa bond, and the Formosa market’s first sustainability bond transaction by a foreign issuer.
H-E Parts has been awarded a multi-year, major equipment overhaul contract with Codelco. The contract was awarded to H-E Parts for the rebuild of 23 Komatsu 930E haul trucks, and will be conducted through Rajo Inca, Codelco’s Salvador Division. The contract will be fully managed by the H-E Parts Mining Solutions division based in Antofagasta, Chile.