In El Teniente Division, the Minister of Economy, the Executive President of Codelco and the CEO of Engie Chile debuted the first electric mining truck in the nation. The mining equipment, from the German brand Scharf, will operate within this operations center in a joint project with the Engie company. It is the first versatile electrical equipment to cover extensive stretches, both outside and inside El Teniente underground mine. The truck begins its industrial test stage this week.
Corfo, the Ministry of National Assets and the Ministry of Energy signed a collaboration agreement to make available fiscal land to promote its development. The agreement, in which National Assets committed to set aside 11,986 hectares in the Diego de Almagro commune of the Atacama Region and to incorporate new reserve areas for green hydrogen projects, will last for two years and can be extended automatically and successively for equal periods.
The World Bank said its executive board approved $12 billion in new funding for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their citizens.
Copper touched a three-week high as demand from top consumer China and the threat of strikes by miners in Chile pushed prices closer to 27-month highs reached in September, though a strengthening yuan limited gains. Benchmark three-month copper on the London Metal Exchange (LME) was down 0.2% at $6,748 a tonne fter going as high as $6,785.25. The metal used in power and construction hit $6,877.50 as the Chinese industry reopened and speculators bought into the rally.
According to the Superintendence of Insolvency and Restructuring, the companies that requested to start their liquidation process in September reached 178, an annual increase of 56.1%. Compared to August the increase was 14.8%, and is the largest jump so far this year.
The Mina Union of the Chilean copper deposit Candelaria of Canada's Lundin Mining launched a strike on Thursday after talks with the company broke down in the middle of this week, a leader told Reuters. Patricio Gárate, president of the union that groups 350 members, said that the strike is "the fault of the company that did not want to continue talking." According to the leader, the task is 89% paralyzed. Minera Candelaria, however, assured that the union represented only a third of the mine's operators and that "the other workers and contractors showed up for their working hours normally."
Consumer prices in Chile rose 0.6% in September, above what the market expected, due to increases in food and non-alcoholic beverages, equipment and home maintenance, the government reported. The National Institute of Statistics (INE) said that inflation registered a 12-month rise of 3.1%, in the middle of the Central Bank's tolerance range, between 2.0 and 4.0%. The market expected inflation of 0.3% in September.
According to Customs data processed by iQonsulting, Chile received 33,871 tons of Peruvuan avacado exports in 2020 (equivalent to 8.4%). This volume has been the highest imported by the country in the last decade, increasing by 101% with respect to to the amount imported in 2019.
Chile's import and export volume amounted to $93.479 billion between January and September of this year, an 11% drop year-on-year, according to the government. A drop in imports accounted for more than 85% of the decline in foreign trade, with imports falling 19% year on year to $42.636 billion, according to a statement by the Foreign Affairs Ministry's Undersecretary of International Economic Relations (Subrei).
The value of Chilean copper exports rose in September amidst a gradual recovery in global metal prices and despite the impact on production from the pandemic, according to figures released by the Central Bank. The appreciation of shipments of the red metal climbed 8.3% year-on-year to $3.053 billion in September.