President Piñera seeks Constitutional Court help to halt 2nd pension withdrawal

President Piñera said his government would appeal to Chile's Constitutional Court to stop an opposition measure aimed at allowing citizens to withdraw a second installment from their privately held pensions. The president said the legislation was unconstitutional since it implies a cost to the public purse that can only be determined by the executive. It also poses a “grave risk” to the future pensions of Chileans, as well as offering another tax-free windfall to higher-income individuals who do not need it.

HIF’s 1st green hydrogen plant enters environmental process

HIF announced that it presented to the Magallanes Environmental Assessment Service, the Environmental Impact Statement for the construction of the decarbonization pilot and production of carbon neutral fuels. The plan (which Enel, Enap, Siemens Energy & Porsche also participate in) is to invest $38 million in the construction of a chemical plant for the production of e-fuels, a 3.4 MW wind farm and a line 13 kV backup transmission.

Union at Antofagasta’s Centinela prepares to vote for strike

A worker's union at Antofagasta Minerals' Centinela copper mine in Chile is preparing to vote next week on a contract offer. However, the union says it will likely reject the offer which could result in a strike at the deposit. Chilean law says that once a union approves a strike, the parties then attend five days of government-mediated talks (which can be extended for an additional five days).

Short interest in Banco Santander Chile increases 24.1%

Banco Santander Chile (BSAC) was the recipient of a large increase in short interest during October. On October 30th, short interest totalled 1,800,000 shares. This is a 24.1% increase compared to October 15th. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 533,700 shares, the days-to-cover ratio is presently 3.4 days.

$26.5m UKRI investment to tackle plastic waste in developing nations

UK Research and Innovation (UKRI) is investing $26.5 million for research into understanding the impacts of plastic pollution in developing countries. is supporting five projects that include partnerships with researchers across 11 countries: China, Chile, Egypt, Ecuador, India, Indonesia, Peru, Malawi, Sri Lanka, Tanzania and Vietnam. The research projects will draw upon: arts & humanities, economic & social, engineering, physical, environmental and life sciences, to find ways to mitigate the impacts of plastic pollution.

Chile’s SQM increases lithium sales by 56%

SQM said it continued to boost sales of lithium even as low prices battered profits, prompting the company to announce a further expansion by 2023. SQM said it had sold 17,700 tonnes of lithium in the third quarter, a 56% increase from the same period the previous year. SQM's net income plunged 97% year-on-year to $1.7 million in the quarter, dragged down by low prices and a one-time $62.5 million settlement fee in a class action lawsuit.

Joyvio injects $167m bond into Australis Seafoods

Joyvio Group, owned by Chinese computer giant Legend Holdings, has agreed to purchase a $167 million perpetual bond issued by its arm that acquired Chilean salmon farmer Australis Seafoods. The bond follows a cash injection last month that increased Joyvio's share in the firm from 16.2% to 46.1%. The bond and cash injection come amid heavy losses at Agri-Joyvio, which acquired Australis Seafoods for $922 million in 2019.