Tag: Codelco

Thursday, July 12th 2012 - 01:59 UTC

Chile’s top copper producer placed 2bn dollars in 10 and 30-year bonds

CEO Thomas Keller, the issue was oversubscribed five times

The world’s number one copper producer Codelco announced it had placed 2 billion dollars in bonds, its largest debt issue to date, aimed at refinancing debt and funding a good part of the miner's 2013 investments.

Published in: Economy, Investments, Latin America.

Friday, June 1st 2012 - 06:46 UTC

Lack of political support freezes Chile’s biggest multi-dam project

President Piñera has seen his support drop to 24% particularly over the unsolved education problem

Chile’s biggest dam project involving 7 billion dollars and already delayed by protests over plans to flood 14,000 acres of Patagonia wilderness, suffered a fresh setback after one of its investors said the venture lacks political support to proceed.

Published in: Environment, Politics, Latin America.

Monday, November 21st 2011 - 07:19 UTC

Major clash in Chile between state copper company and Anglo-American

Codelco CEO Diego Hernandez” I think they are jeopardizing their future”

Anglo American is jeopardizing its future in Chile by trying to prevent state-owned copper giant Corporacion Nacional del Cobre, Codelco from acquiring a 49% stake in its AAS subsidiary, warned Codelco’s CEO.

Published in: Economy, Latin America.

Tuesday, August 16th 2011 - 13:41 UTC

Chile approves massive coal mining project in extreme south Patagonia

President Sebastián Piñera is one of the main shareholders behind the Minera Isla Riesco project

The controversial Isla Riesco coal-mining project in the extreme south of Chile took another step forward last Friday when a high-level government commission gave final approval to the first of five mines, Mina Invierno.

Published in: Investments, Latin America.

Friday, May 20th 2011 - 10:42 UTC

Piñera submits bill to repeal financing military expenditure with copper exports

Chilean armed forces are among the best equipped in South America

Chilean President Sebastián Piñera signed a bill which, if approved by Congress, would eliminate a substantial source of revenue for Chile’s Armed Forces. Under current legislation, 10% of all export revenues from Chile’s National Copper Corporation (CODELCO) are directed to the Superior Council of National Defence, to be spent on weaponry and equipment.

Published in: Economy, Politics, Latin America.

Wednesday, March 2nd 2011 - 03:47 UTC

Chile and France sign deal for development of uranium

France is a global leader in nuclear energy, with nuclear reactors providing 80% of its energy.

Chile and France on Saturday signed a deal promoting the exploration and development of uranium. The deal between the state-owned Codelco (copper mining company) formalizes France’s ability to source minerals, including uranium, from Chile’s mining sector.

Published in: Energy & Oil, Latin America.

Friday, April 23rd 2010 - 01:40 UTC

Chile’s nationalized copper company taps private sector CEO

Diego Hernández Cabrera has worked for the world’s main mining corporations

Chile’s nationalized copper company—and the largest copper company in the world—has a new CEO. Diego Hernández Cabrera, a current executive with International mining giant BHP Billiton, was appointed unanimously this week as CEO by Codelco’s board of executives.