Chile’s SQM suspends operations at lithium salt flats due to blockades
SANTIAGO (Reuters) – Chile’s SQM, the world’s second-largest lithium producer, said it has suspended operations at the Atacama salt flat in Chile due to road blockades. “Since we do not know how…
Moody’s and Fitch say Chile’s polarization, social demands persist after constitution vote
SANTIAGO (Reuters) – A vote in Chile to reject a new constitution on Sunday reduced regulatory uncertainty but does not resolve social discontent or political divisions, rating agencies said on Monday. The…
Chile’s economic activity index up 0.3% in October, offset by mining decline
(Reuters) – Chile’s IMACEC economic activity index rose 0.3% in October from the previous year, the central bank said on Friday, slightly below forecasts. Economists polled by Reuters expected a 0.4% increase.…
Chile’s Cochilco says large-scale copper mining costs keep growing
SANTIAGO (Reuters) – The costs of large-scale copper mining in Chile kept rising due to lower production and rising service costs, a report from the state-run Chilean Copper Commission (Cochilco) said on…
Chile’s Codelco to meet obligations as financials deteriorate -JPMorgan
SANTIAGO (Reuters) – Chile’s Codelco, the world’s largest copper producer, will meet its financial obligations despite headwinds from a series of operational problems and from high levels of debt and investments, JPMorgan…
Chile’s Arauco shuts down pulp plant, cutting around 160 jobs
(Reuters) – Chilean pulp and wood panel maker Arauco said on Tuesday it is halting indefinitely its operations at its Licancel pulp plant due to environmental challenges, causing some 160 workers to…
Chile’s economy stagnant in most optimistic scenario for 2023 -cenbank
SANTIAGO (Reuters) -Chile’s central bank on Wednesday lowered the top end of its estimate for the country’s economic performance in 2023, saying it now forecasts gross domestic product (GDP) to show no…
Chile’s Codelco at risk of insolvency as debt grows, CESCO report says
By Julian Luk LONDON (Reuters) – Chile’s Codelco, the world’s largest copper producer, is at risk of insolvency due to rising costs and a growing debt pile stemming from projects that missed…
Chile’s Codelco sees lower copper output, more stoppages in 2023
SANTIAGO (Reuters) -Chile’s state miner, Codelco, on Friday cut its copper output forecast for 2023 and said it expects more halts in production during the second half of the year, following months…
Chile’s economic activity index down 2% in May
SANTIAGO (Reuters) – Chile’s economic activity index fell for the fourth consecutive month in May, the central bank said on Monday, underscoring the economic headwinds faced by the world’s largest producer of…
Electrical accident at Chile’s El Teniente copper mine leaves one dead
SANTIAGO (Reuters) – An electrical accident at Codelco’s El Teniente mine in central Chile, the company’s largest copper mine, left one dead, the state-owned mining giant said in a statement on Thursday.…
Chile’s Codelco must kick-start lithium industry while reviving copper output
By Fabian Cambero SANTIAGO (Reuters) – Chilean President Gabriel Boric, seeking to expand the country’s long-stalled lithium industry, has tasked state-owned Codelco, the world’s largest copper producer, to lead the charge of…
Chile’s state miner launches subsidiaries to manage lithium takeover plan
SANTIAGO (Reuters) – Chilean state miner Codelco, the world’s largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to…
Chile’s lithium giant SQM sees profits dip, despite uptick in prices
(Reuters) -Chile’s SQM, the world’s second-largest lithium producer, said on Wednesday that its first-quarter net profit slid almost 6% compared to the year-ago period to total nearly $750 million. Revenue for the…
Chile’s senate approves mining royalty bill, passes to final vote
SANTIAGO (Reuters) -Chile’s senate approved on Wednesday a long-awaited new mining royalty bill, passing it back to the lower chamber for a final vote that could come as early as next week.…
Chile’s voters set to take big step in constitution redraft 2.0
By Natalia A. Ramos Miranda SANTIAGO (Reuters) – Chileans will vote to elect 50 constitutional advisers on Sunday, a major step towards rewriting the constitution, after voters overwhelmingly rejected a first attempt…
Chile’s tax reform rejection could raise debt, Moody’s says
(Reuters) – Chile’s rejection of a tax reform put forward by leftist President Gabriel Boric will complicate the country’s process of fiscal consolidation and gradually push up the country’s debt, a Moody’s…
Chile’s Cencosud posts uptick in profits boosted by core business
SANTIAGO(Reuters) – Chilean retailer Cencosud posted a 22% rise in its fourth-quarter profit last year, the company said in a statement on Thursday, boosted by stronger results in its core business such…
Chile’s economic activity starts 2023 on a positive note
SANTIAGO (Reuters) – Chile’s economic activity in January beat market forecasts and put an end to a negative string of four consecutive monthly drops, with improved mining results helping the world’s largest…
Chile’s Falabella posts Q4 net loss as key sectors see revenue drop
(Reuters) – Chilean retailer Falabella on Tuesday reported a fourth-quarter net loss of 22.6 billion Chilean pesos ($26.3 million), after posting a net profit of 196.2 billion pesos in the year ago…
Chile’s economic activity falls less than expected in December
SANTIAGO (Reuters) – Chile’s economy performed better than expected in December but still ended 2022 in negative territory as the world’s largest copper producer faces a slowdown after a rapid post-pandemic recovery,…
Chile’s central bank maintains interest rate at 11.25%
SANTIAGO (Reuters) – Chile’s central bank maintained its benchmark interest rate at 11.25% on Tuesday, as the bank said the country had reached its peak in the current hiking cycle, which began…
Chile’s GDP posts largest quarterly drop in over 2 years as recession fears grow
By Fabian Cambero and Gabriel Araujo SANTIAGO (Reuters) -Chile’s economy shrank in the third quarter at the fastest quarterly rate in more than two years, declining further after a rapid post-pandemic recovery…
Chile’s Codelco trials fully-electric loader in bid to cut emissions
By Natalia A. Ramos Miranda EL TENIENTE MINE, Chile (Reuters) – A huge fully electric-powered 14-ton loading shovel has begun operating at Chile’s century-old El Teniente copper mine, in what state miner…
Chile’s Escondida mine workers announce strike amid labor demands
SANTIAGO (Reuters) – Workers of Chile’s Escondida mine, the world’s largest copper mine, decided to go on strike on November 21 and 23 due to labor demands, its No. 1 union said on…
Chile’s Empresas Copec posts 35.5% drop in Q3 net profit
SANTIAGO (Reuters) -Chilean industrial group Empresas Copec on Friday posted a 35.5% decrease in its third-quarter net profit versus a year earlier, mainly driven by a drop in non-operating income. The company’s…
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