Codelco launches electric mining truck in El Teniente underground mine

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.

Government commits to reserve 11,986 hectares in the Atacama Region

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.

Copper nears multi-year highs on Chinese demand

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.

Bankruptcies increase 56% in September

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.

Lundin copper mine union in Chile starts strike

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 rise 0.6% in September

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.

Chile trade exchange falls 11% in first 9 months of 2020

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).