Montero Mining and Exploration Ltd. has initiated exploration of the Isabella gold silver project located approximately 200 km south of Santiago, in the Southern Coastal Range of Chile. The Company has tied up mineral rights to exploration claims that cover an area of 67 km2 and make up the Isabella Gold Silver Project. On August 30, 2020 Montero completed a $50,000 option payment on the Isabella East claims. No drilling has ever been carried out at Isabella.
OHL is entering the business of promoting renewable energies. The group, led by José Antonio Fernández Gallar, has decided to include the development of its own portfolio of photovoltaic projects in its growth strategy. OHL begins this commitment to three of its strategic countries, Spain, Chile and Colombia, where there is a strong boost to renewables. A short-term goal has been set to reach 900 MW, which will provide it with a portfolio of EPC (engineering and construction) associated with projects of more than €500 million ($593 million) in the medium term.
After the cyber attack that affected BancoEstado, the financial institution reported that almost 90% of its branches are operational. Of the total number of branches available before the incident, 354 with cash service are currently in operation. Of the latter, 316 have an in-house customer service and 292 have a commercial customer service, which allows the bank’s customers to carry out a greater number of procedures.
The current season of clementines in Chile is being concluded with “quite a success”, according to Juan Enrique Ortúzar, president of the Chile Citrus Committee (ASOEX). The expectation of the Chilean citrus growers was 10% higher production than the current situation, but the clementine season ended up with a 2.5% increase over the previous season. According to the Committee’s data, nearly 59,000 tons of clementines were sold this season, 57% of which were shipped to the East Coast of U.S., and 43% to the West Coast.
A study by Enlace Inmobiliario reveals a historical volume of requests for pre-approval of mortgage loans in August. The study highlights the strong increase in the demand for mortgage pre-approvals to buy houses, which in August practically doubled compared to July, jumping to 94% and reaching 4,437 applications. This is due to the impact of quarantine, as well as the desire to access better spaces to live and work from home.
US-bound trim D, freight-on-board Chilean salmon fillets to the US leaped $0.29 in price, to $3.29 per pound, for week 36. This was down to the trucking strike in Chile which cut off a significant chunk of supply from the market late in week 35 and week 36.
Cerro Grande Mining announces finalisation of asset purchase agreement with Tamidak to acquire its mining concessions and assets relating to the Pimentón copper gold mining project. Cerro Grande Mining will hold special meeting of shareholders on November 10, 2020 for approval between its subsidiary Til Til and Tamidak. If the transaction goes through, purchase price payable will be C$6.71 million.
A study prepared by the Santiago Chamber of Commerce (CCS) positioned Chile as the third most affected country in terms of employment in the world, as a result of the COVID-19 pandemic that is hitting the globe. According to the study, Chile recorded a drop of 20.9% in employment, between March and July.
French renewable energy producer CVE Group announced a $119 million capital injection from UK asset manager Intermediate Capital Group plc, which will be used to fund the company’s expansion. CVE Group is eyeing 2.3 GW of capacity in operation and under construction by 2025, which would be an eight-fold increase from the current level. Over 50% of this capacity will be deployed outside France, mainly in the US, Chile and some African markets.
PacketLight Networks announced that PIT Chile has deployed PacketLight’s PL-2000T transponder to connect two of its data centers in Santiago, Chile. PIT Chile required a high capacity and high-speed solution capable of supporting a 200G protected DCI link between two data centers in El Bosque and Santa Marta on three nodes of dark fiber. It also had to be easy to self-install due to COVID-19 preventing on-premises PacketLight support. The PL-2000T met all these needs, delivering high capacity transport of up to 8 x 100Gb Ethernet protocol with integrated EDFA and optical switch.