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.
According to data released by state copper agency Cochilco, Chile has managed to boost its production in the face of the outbreak, churning out 492,500 tonnes from its sprawling mines in May, a 1% increase over the same month the previous year. The country’s output since January has risen 3.9%, to 2.4 million tonnes.
Tesoro Resources has started infill and extensional drilling at its flagship El Zorro gold project in Chile, with two rigs onsite at the high-grade Ternera prospect. Drilling is initially targeting Ternera and following up on previous intersections that include numerous intervals exceeding 100 grams per metre of gold.
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.”
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.
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%.
During the summer citrus season, LGS Specialty Sales sources lemons, navels, minneolas, mandarins and cara cara oranges to the U.S. for its Darling Citrus® line. According to LGS, the company is experiencing a strong summer lemon season from Argentina and Chile. Chilean lemon season began in late June and anticipates going through early October with a peak in medium to small size fruit.
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 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 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.