Chile

Coal India, which is focused on coking coal, has been scouting for partnership opportunities to mine rare-earth metals in?Australia and Russia as well as Argentina, Chile, and several African nations, said a senior?executive from its unit. This move follows China's decision to restrict exports of rare-earth materials late last year. The restrictions threaten operations in industries such as autos and electronics, which rely on these?critical minerals. "In our own country as well as in other countries, we will?invest. We are going explore. We are also working with other companies to find rare earth metals. Manoj Kumar Agarwal, Chairman and Managing...

The companies announced on Wednesday that Glencore, a Swiss miner and trader, and Chilean state-owned copper producer Codelco have signed a preliminary agreement to work together on a smelter in Chile. Codelco will provide the copper concentrate, and Glencore will build the smelter, which has a processing capacity of about 1.5 million tons per year, in Antofagasta in the northern part of Chile. Experts in the industry say that a project this large would require an investment of $1.5 billion - $2 billion. Glencore will carry out a feasibility study and the companies aim to finalize the agreement by the...

Anglo American offered to purchase ferronickel for resale to Europe from MMG, for a period of up to 10 year to alleviate EU antitrust concerns over the sale of their nickel business to an unit of Hong Kong listed company. This was revealed by a source with direct knowledge on Wednesday. Anglo American, a London-listed company, announced in February the $500 million sale of its nickel business to a unit of MMG. The European Commission has now begun to examine the sale. Source: The remedy offered would alleviate any regulatory concerns about the deal cutting off some metal supply to...

Diego Pardow, Minister of Energy for Chile, said on Wednesday that the country will reduce its green-hydrogen production targets due to a decline in global market prospects. Pardow, in an interview during Energy Week Santiago, said that the adjustment will be published before March 2026, the end of current administration's term. He said that "the international market for green hydrogen has cooled down a bit." The reduction would be in line with European nations that have reduced their goals. This trend is mirrored by developers all over the world who are cancelling their projects and reducing investment. Pardow stated that...

Anglo American, the state-run Chilean copper giant Codelco and their Chilean neighbours have finalised a joint operation agreement for their Chilean copper mines. The aim is to extract at least $5 billion from their key assets. The mining plan is based on the memorandum signed in February by both Codelco and Anglo American. It relates to the Andina Mine of Codelco, as well as the Los Bronces Mine of Anglo American in central Chile near the capital Santiago. Codelco Chairman Maximo Pacheco said, "We are now able to maximise the potential of Andina-Los Bronces without major investment and with much...

A government source stated on Monday that India will likely finalise terms of reference of a proposed free-trade agreement with Qatar by early October. This is in response to its efforts to create deeper global partnerships, and to offset the impact from U.S. Tariffs. The government source who requested anonymity because the details of the trade negotiations are not yet public told reporters that Trade Minister Piyush Goyal may visit Doha to finalize the framework for the negotiations on October 6. Both sides agreed that they would double their bilateral trade in five years to $28 billion during the visit...

Empresas Copec, a Chilean conglomerate of industrial companies, reported a 21% decline in its second-quarter profits despite revenue exceeding expectations. The forestry giant is facing falling pulp prices as well as trade war impacts due to the U.S. and China. The net profit for the quarter ended June was $228 million, which is in line with expectations of LSEG's analysts. Revenues were down 1% at $7.18 billion. The revenue of Copec, the owner of a large forestry company, as well as fuel distribution and mining operations, was higher than analysts' estimates at $6.84 billion. Copec attributes the drop in sales...

Andres Musik, El Teniente’s general manager, said that Codelco had not yet contacted five workers who were missing at the Andesita Unit of El Teniente following a seismic event which killed one person. He said that Codelco expected the aftershocks to subside in the next twelve hours, which would allow it to start efforts to contact the workers. Music stated in a recent press conference that "the event we recorded yesterday was one of, if not the biggest event" the El Teniente Mine has ever experienced. He noted that the incident was a magnitude 4.2 earthquake. Andesita was one of...

Anglo American, a global miner, reported on Thursday a 13% drop in copper production for the first half of this year, to 342,200 tons. It also reported a 26% decline in rough diamonds as the demand remains weak. The London-listed company still expects 690,000-750,000 tonnes of copper to be mined this year. This is down from 773,00 tons in 2024. Metal is used for electrical wiring, and demand will increase as electric vehicles and renewable infrastructure are developed. After BHP failed to acquire the miner last year, it is now restructuring its business, focusing mainly on iron ore and copper....

Empresas Copec, a Chilean conglomerate of industrial companies, said that the Chinese market could be more difficult for its forestry product if paper manufacturers struggle to increase sales due to uncertainty about U.S. Tariff policies. In a recent presentation, Cristian Infante, the head of Copec’s forestry division Arauco, said that most of the customers who export to the U.S. don’t really know the price at which their goods will be sold. "They're trying as hard as they can to buy as little." Arauco sells wood panels and pulp worldwide and contributes to the majority of Copec’s earnings. However, its core...

Empresas Copec, a Chilean conglomerate of industrial companies, announced Thursday a 8.5% decline in its first-quarter profits. This was partly offset by the stronger performance of the energy sector. The first-quarter profit was $208 million, compared with $228 million for the same period last year. Revenues increased by 1.8% to $7.25 Billion. Analysts polled by LSEG had expected a net loss of $220 millions and revenues of $6 billion. Arauco's core earnings fell by 22.4% due to lower pulp prices, lower volumes and higher wood prices. Copec reported that while the sector had positive pricing trends, and sales improved towards...

Anglo American, a global miner, reported on Thursday a 15% drop in its production of copper for the first three months of the year. However, the company left the yearly forecast unchanged. The London-listed company said that copper production dropped to 169,000 tons in the first quarter of this year. It attributed the drop in production in Chile. The copper production in 2025 is expected to range between 690,000 - 750,000 tonnes. As the world shifts to cleaner energy sources, it is expected that metals will be used more for electric vehicles and renewable facilities. Prices for industrial metals have...

MOSCOW, 20 April - Russian aluminum maker Rusal blamed Monday high interest rates and a strong Russian rouble for its unspecified loss in the first quarter, which was recorded despite an astronomical rise?in prices of metal around the world. Last week, prices reached a four-year high as a result of a blockade of Strait of Hormuz. This is the route through which up 9% of global aluminium trade travels. The company stated in a statement released on Monday that "Rusal can't take advantage of current pricing conditions" as all margins go to European and North American companies. Rusal claimed that...

Documents seen by show that Chilean copper producer Codelco, and global miner Anglo American, plan to submit different environmental studies to the regulators in Chile for their planned "shared copper mine". They will use what they call a "unprecedented", twin-track approval process. Documents previously unknown on the Andina Los Bronces project were presented to environmental authorities in January. They show that the companies intend to submit two applications essentially identical in December for a 'pit' where they will jointly extract copper from the top producer of red metal in the world. This model could be used as a template for...

The consumption of refined copper in the world's largest metals market, China, shows no signs of peaking. It could increase by an average 3.7% annually over the next decade. China's growth in demand this year is expected to be much smaller at 1%. Zuo Haoen said at the World Copper Conference, in Santiago. He cited a slowdown in the energy transition, especially solar power that uses copper, and high copper prices. According to Minmetals "most realistic" scenario, Chinese copper consumption will increase by 3.7% per year, reaching 22.95 millions metric tons in 2035. This is a 43% increase from 16...

Codelco's Chairman Maximo Pacheco said that despite the price increases due to the Middle East conflict, the firm was still on track to reach its 2026 production target. The company hopes to increase production to 1.7 millions tons by 2030 after falling to a quarter century low in 2022-2023. However, the Middle East war pushed Codelco’s cash costs up by at least ten cents per pound. "That's a lot," Pacheco stated. He added that the biggest challenge facing the industry was operational continuity. "We've seen copper production becoming more difficult every day," he said. Codelco was able to protect itself...

Codelco (Chilean state-owned) is the largest copper producer in the world. It reported on Friday a profit before tax of $4.85 billion by 2025. The company reported that it had produced 1.33 million tons of pig iron through December, an increase of 0.5% over 2024. The state-run company also reported earnings before taxes, depreciation, and amortization (EBITDA), which was $6.67 billion in 2025, a 23% rise compared to the year before. Codelco reported that production at its Ministro Hales and Radomiro Tomic mines, and at the Salvador mine, helped offset declines at Chuquicamata, Gabriela Mistral and due to geological factors....

Albemarle, the largest lithium producer in the world, announced on Wednesday that it had begun the environmental review process for its first Direct Lithium Extraction project (DLE) in Chile. Albemarle stated in a press release that the project was designed to recover twice as much lithium while reducing the amount extracted of brine compared?to the current operations. Albemarle said in a submission to the Chilean Environmental Assessment Agency that if the project were completed, it would require a total investment of $3.1 billion with a useful lifetime lasting until 2045. The initiative is aimed at a?more sustainable and efficient production...

Chile and the U.S. signed a statement on Thursday to start?discussions about rare earths and critical minerals. It was added that the first meeting would take place in 'the next two weeks. The areas of possible coordination include public-private financing of mining projects, management of scrap minerals recycling and exploration of new projects that can help boost mineral supplies in both countries. The Trump administration is pushing to reduce the reliance on China in a number of key minerals that are used for electric vehicles, semiconductors defense systems and consumer electronics. Chile is the second largest lithium producer in the...

The Chilean mining ministry has prepared 'two new lithium contracts' to be submitted to the national comptroller by March. This is part of a broader effort to enlarge production beyond the projects that were initially submitted this year. These two contracts are distinct from the tenders that the Ministry submitted in January. Two of them were rejected. The preparation of their report'signals an extension of Chile’s national lithium policy, which aims to dramatically increase output by the year 2034. Key Context El Mercurio reported Wednesday that the ministry intends to re-submit five contracts within a few days. Three others are...

Anglo American reported a $3.7billion loss on Friday, after another writedown of its diamonds business. The miner is pushing ahead with plans to shed its non-core assets as well as complete its merger with?Teck Resources. Anglo has wrapped up an uneven reporting season for London listed mining groups. This highlights the divergent fortunes of the industry as Antofagasta benefitted from rising copper prices, while other diversified peers suffered due to weaker markets in iron ore and diamonds. The company recorded a $2.3bn pre-tax impairment on its De Beers division, reducing carrying value from over $4bn to $2.3bn. Analysts' estimates of...

Antofagasta, a Chilean miner, posted a 52% increase in its annual core profit on Tuesday, as record prices for copper offset softer output. It also said that increased capital expenditures would support production over the medium-term. Analysts had expected that earnings before interest, tax, depreciation, and amortisation would reach a record of $5.2 billion in 2025, up from $3.43billion a year ago. This was due to the fact that copper prices rose by more than 40%. Antofagasta proposed a final dividend of 48 cents per share for 2025, bringing its dividend payout ratio to 50%. Since more than a decade,...

Claudio Sougarret, the mine's head, said on?Tuesday that production at Codelco’s El Teniente will be affected for?the next?five years. He said that the mine will produce 301,000 tons of red metal in this year. This was on the sidelines an event to showcase the results of a study of biodiversity near the mine. He said that he hoped to "push?that production" up a little, but cautioned it would be "?around there and will be for the next five year." Codelco, world's biggest copper?miner, has previously stated that production will be affected for the next 3 years. A collapse at the...

Canada's Capstone Copper announced on Friday that its largest union at the Mantoverde copper and gold mine in?Chile approved a three-year contract. This ended a strike which began on January 2, and allowed production to resume normal. The Australian-listed shares of the miner fell by?3.9%, to A$15.430. This is their lowest level since January 23. The agreement brings an end to the labour strike which had reduced production in the?mine by about 55%. Capstone announced that it had?now negotiated new contracts for all four unions on the site. This allows the company to resume its full operations. Union No. Union...