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France 24
09-07-2025
- Business
- France 24
Copper giant Chile awaits 'official' news on US tariff raise
The South American country is responsible for nearly a quarter of global copper supply, which contributes 10 to 15 percent to its GDP. "The government reacts to these matters with caution, as is appropriate in diplomacy," President Gabriel Boric told reporters Wednesday. He said he was awaiting "official communication from the United States government regarding the policy" on copper duties, after which "we will be able to respond with the institutional strength that characterizes Chile." Trump on Tuesday told a cabinet meeting: "I believe the tariff on copper, we're going to make it 50 percent." He did not set a deadline but Commerce Secretary Howard Lutnick said the rate will likely take effect by the end of July or on August 1. China is the leading buyer of Chilean copper. In 2023, it accounted for 56 percent of exports, followed by the United States with 11 percent and Japan with 8.5 percent, according to the Chilean Copper Commission. State-owned copper giant Codelco, the world's single biggest producer of the metal used in wiring, motors and renewable energy generation, also noted there had been no formal communication on the US tariffs. There is no "executive order from the United States," said Maximo Pacheco, board chairman of Codelco, which produces between eight and 10 percent of the world's copper.
Yahoo
04-07-2025
- Business
- Yahoo
Itaú Chile launches its first Sustainable Finance Framework, favorably assessed by S&P Global Ratings
SANTIAGO, Chile, July 04, 2025 (GLOBE NEWSWIRE) -- BANCO ITAÚ CHILE (SSE by nuam: ITAUCL) today announced the release of its first Sustainable Finance Framework (the 'Framework'), establishing a comprehensive platform for the issuance of green, social, and sustainability-linked instruments, aligned with leading international standards. S&P Global Ratings issued a Second Party Opinion (SPO), rating the Framework's alignment with global standards as 'Strong', based on the following principles: ICMA Green Bond Principles (2021) ICMA Social Bond Principles (2023) ICMA Sustainability Bond Guidelines (2021) LMA / APLMA Green & Social Loan Principles (2023) 'With this Framework, we place sustainability at the core of our financing strategy, enabling investors to directly support Chile's energy transition and social inclusion agenda,' said Claudia Labbé, Chief Sustainability Officer and Head of Corporate Affairs at Itaú Chile. This initiative reflects Itaú Chile's strong commitment to sustainability, which is fully integrated into its business strategy. Through concrete actions such as sustainable finance, carbon footprint measurement, and financial inclusion programs, the bank aims to contribute actively to a resilient, inclusive, and low-emission economy. The Framework reinforces Itaú's belief that finance can be a powerful driver of sustainable development For the full Sustainable Finance Framework, please refer to the following link: For the Second Party Opinion (SPO) issued by S&P Global Ratings, dated July 4, 2025, please refer to the following link: Investor Relations – Itaú Chile IR@ / in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
CChEN approves Codelco's subsidiary to extract lithium in Salar de Atacama
The Chilean Nuclear Energy Commission (CChEN) has authorised Minera Tarar, a subsidiary of Codelco, to commence lithium extraction in the Salar de Atacama from 1 January 2031. The decision is pivotal for the operational continuity of the anticipated joint venture between Codelco and SQM. Minera Tarar has been granted an initial maximum extraction of 2.5 million tonnes (mt) of lithium metal equivalent (LME) over 30 years, potentially increasing to 3.01mt of LME. This is contingent upon the submission of an updated resource evaluation report and obtaining the necessary Environmental Qualification Resolution. The approval from CChEN ensures that the future partnership can operate without interruptions in lithium production and commercialisation once the current SQM Salar contract ends in 2030. To facilitate operational viability, CChEN has also sanctioned the advancement of part of the extraction quota from 1 January 2029, to mitigate production lags due to the natural delay between brine extraction and lithium marketability. Codelco chairman of the board Máximo Pacheco stated: 'The approval of this request by the CChEN is excellent news for Chile. It represents a key step forward in ensuring the operational continuity of the new public-private partnership we are promoting with SQM.' The development complements other recent regulatory approvals in Chile and internationally, furthering the fulfilment of the preconditions for the Codelco-SQM partnership agreement. In a related development, Rio Tinto has entered binding agreements with Codelco to form a joint venture for the Salar de Maricunga lithium project in Chile, with a planned investment of up to $900m. Rio Tinto will acquire a 49.99% stake in Salar de Maricunga, the entity holding Codelco's licences and mining concessions, by financing studies and development costs. "CChEN approves Codelco's subsidiary to extract lithium in Salar de Atacama" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-06-2025
- Politics
- Bloomberg
Charismatic Communist Shakes Up Chile's Presidential Primary
Lea en español. Just over a hundred years after its creation, Chile's Communist Party may have unexpectedly found one of its best-ever presidential hopefuls.
Yahoo
17-06-2025
- Yahoo
Churchgoers Flee as Powerful Earthquake Interrupts Mass in Peru
One person is dead and dozens of others are injured after an earthquake hit Peru over the weekend Footage shows churchgoers in Lima as the 5.6 magnitude earthquake paused mass A 36-year-old Lima man died in the earthquake after a wall from a construction site fell on himOne person is dead and dozens of others are injured after a 5.6 magnitude earthquake hit near Lima, Peru, over the weekend. The deadly quake occurred around 11:35 a.m. local time on Sunday, June 15, in coastal waters near Lima and was also felt in nearby Callao, the United States Geological Survey (USGS) reported. Footage obtained by CTV News shows churchgoers in Lima running as the quake disturbed a mass. The earthquake killed a 36-year-old Lima man who had been standing by his car waiting for a passenger when a wall from a construction site fell on him, a police colonel told RPP radio, per the Associated Press. Actualización | Aumenta la cifra de heridos a 43, tras sismo de magnitud 6.1 en el Callao, según el @Minsa_Peru; 25 de ellos fueron dados de alta y 18 permanecen hospitalizados. El GORE Callao entregó Bienes de Ayuda Humanitaria a la MD de Mi Perú para los damnificados. (1/2) — COEN - INDECI (@COENPeru) June 16, 2025 Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. The Peruvian National Emergency Operations Center, which said the earthquake was a 6.1 magnitude, announced the number of injured rose to 43 on Monday, June 16, citing the Health Ministry in a post on X. Twenty-five people have been discharged and 18 remain hospitalized, according to an English translation of the message. The COES Culture Department reported damage to a wall of the Huaca Pucllana Site Museum, according to the Emergency Operations Center. Read the original article on People
