Category: Industry

Information about Chile’s economic sectors

Chilean ministry awards land concessions for 2.6 GW to 8 power producers

The Chilean ministry of national assets has awarded land concessions for the development of renewable energy projects to 8 power producers, expecting around 2,614 MW of new capacity. The 8 power producers are: Enel Green Power Chile, Caldera Solar, Copiapo Energia Solar, Solarcentury Chile, Sonnedix Chile Holding, Solarpack Chile Limitada, Engie Energia Chile and EDF En Chile Holding. Based on the bids, the new projects will involve investments totalling US $2.536 billion.

BHP’s Cerro Colorado copper mine in Chile to scale down operations

Global miner BHP has announced that it would begin to scale down activity at its small Cerro Colorado copper mine in Chile amidst the pandemic. BHP said the new plan would mean a gradual reduction in staff that would begin this year and span the coming four months. The company said it would continue to “look for medium and long-term alternatives that would allow it to extend its mining operation beyond 2023.”

Manucturing drops by 13.3%, Copper rises by 0.6% and Mining increases by 2.1%

The Manufacturing Production Index decreased by 13.3% in May, hit by a decline in food processing, according to the National Statistics Institute (INE). The INE also reported that copper production in Chile rose by a weak 0.6% year-on-year to 495,604 tons in May, with resource extraction up 3.4% to May. Furthermore, the INE also said that the Mining Production Index showed an increase of 2.1% over the same month last year.

150 BYD electric buses go into service in Santiago

A further 150 BYD electric buses went into service in Santiago, Chile, bringing the total number of BYD electric buses in Chile to 455. In autumn last year, in cooperation with Enel X and Metbus BYD, the first electric bus corridor was set up in Latin America in the Chilean capital. With 455 electric buses now in service in Chile, the Chinese company claims to lead the market for electric buses in the country with a share of 65%.

Chilean cherries exports reach a historical record of 230,000 tons

Despite the negative effects of the pandemic, Chilean cherries achieved historical figures during the 2019-2020 season, where China was a key consumer. According to the president of the Federation of Fruit Producers of Chile (Fedefruta), Jorge Valenzuela, last season they exported about 230,000 tons of cherries, a “historical record.” He pointed out that the figure left revenues of $1,400 million for Chile.

Copper prices rise as COVID-19 threatens Chilean supply

Copper prices rose on Monday, trading close to a five-month high, due to disruptions in the supply of the metal in Chile solid demand in China and reduced inventories of the input. Three-month copper on the London Metal Exchange (LME) gained 0.2% at $5,969.50 a tonne, close to $6,006. The metal, used in the energy and construction industries, has soared 35% from its March floors, recovering almost all of the ground lost during the early stages of COVID-19.

Revelo provides update for its gold-silver projects in northern Chile

Revelo Resources Corp. wholly-owns four gold-silver projects covering more than 38,000 hectares of ground along northern Chile’s highly prospective and productive mineral belts. Revelo intends to focus its activities and exploration funds, subject to Revelo raising new capital, on a rolling program of exploration on these projects in order to advance towards potential discovery. Exploration on the projects has included proof-of-concept drilling at Victoria Sur, Las Pampas and Loro which has shown clear evidence for the styles of mineralisation sought.