Chile and California launch alliance on energy transition

The Chile-California Energy Alliance on energy transition, convened by the Chile California Council (CCC) and the Chilean Ministry of Energy, was successfully launched with the participation of representatives from different divisions of the Ministry. The aim of the event, which will last four months with monthly working meetings, is to analyse the various strategies and best practices that can be transferred between the two countries. The aim is then to put them into practice, enabling a successful energy transition process for both countries.

Lithium Chile adds Argentinian lithium salar property to its portfolio

Lithium Chile Inc. announced that it has added an Argentinian lithium salar property to its portfolio by entering into a binding Letter of Intent (LOI) with SMG S.R.L. of Jujuy, Argentina. The LOI enables Lithium Chile to earn up to an 80% interest in the 233 Sq Km Salar De Arizaro located in Salta Province, Argentina. The LOI also gives Lithium Chile the opportunity to earn a large and dominant land position in the centre of the largest undeveloped salar in Argentina.

Concha y Toro’s revenue increased by 8.2% during first quarter of 2021

Viña Concha y Toro has revealed that markets including the UK, Chile and USA drove sales growth in the first quarter of this year. In the first quarter of 2021, revenue increased by 8.2% driven by an overall volume growth of 10.8% which was translated into higher average prices. Net profit for the company was up 87.3%. Concha y Toro revealed that the UK was one of its strongest performing export markets during 2020 with sales volume up 23%.

Mytilineos wins $76.8 mn solar contract in Chile

Mytilineos has secured a $76.8 million contract for the development of 125 MWp of solar projects in Chile. The contract was awarded by Latin American developer EnfraGen LLC. Construction of the projects, located in central Chile, will take place in two phases between the end of April and the end of June. All solar farms are expected to be hooked to the grid by January 2022.

China remained the main buyer of Chilean exports during the first quarter of 2021

During the first quarter of 2021, China remained the main buyer with a 40.9% share of total Chilean exports. Exports from the mining sector represented 74.4% of total shipments to the country, at $6,381 million and an increase of 57.6% over the same period last year. Non-mining exports accounted for 25.6% of shipments to China, totaling $2,191 million. Fruit and nuts exports accounted for 64.7%, registering an increase of 24.0% and totaling $1,418 million. This increase is largely explained by the 38.1% increase recorded by cherries, compared to March 2020.

Europe, South American wine traders expect bigger share in China market after anti-dumping duties on Australia

Winemakers from Europe and South America may enter a golden period of development in the Chinese market, the fifth-largest wine consumer in the world and the largest in Asia, after China imposed anti-dumping duties on Australian wine, leaving a 40% market gap to fill. Since March 28 when China's Ministry of Commerce imposed anti-dumping duties on Australian wine, imports from France, Italy, Chile and other markets into China have accelerated significantly.

IMF criticizes third AFP withdrawal

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."

H-E Parts wins contract with Codelco to rebuild Salvador Division Komatsu fleet

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. 

OECD calls on Chile for a tax reform to tackle inequality

The Organisation for Economic Co-operation and Development (OECD) called on Chile to implement a tax reform to accelerate recovery from the crisis generated by the pandemic and combat socio-economic inequality. The organisation said that "the redistributive impact of the current personal income tax in Chile is weak. A more efficient tax and transfer system can … Continue reading OECD calls on Chile for a tax reform to tackle inequality