Tag: copper
copperChilean economy slows down as the mining sector contracts 6.5% in third quarter
Chile's economy grew a seasonally adjusted 0.6% in the third quarter from the second quarter of 2011, slowing from a downwardly revised 1.3% in the previous quarter.
Chilean inflation in September picks up; central bank to keep buying dollars
Chilean inflation rose 0.5% in September and the trade balance narrowed as falling copper output forced the first monthly year-on-year fall in exports in over two years.
Predominance of Chinese demand rattles Chile’s economic prospects
Even when the price of copper, Chile’s number one export, only begun to recover Friday of continued consecutive falls, in September and the first week of October the red metal reached its lowest level in 14 months.
Confirmed: Copper for another century at Chile’s main Escondida mine
The giant miner BHP Billiton announced this week a 129% increase in the mineral resource at and around Chile’s Escondida, the world's biggest copper mine.
Mining and energy concentrate most investments in Chile in record year 2010
Estimated investment in Chile reached a total of US$130 billion during 2010, including US$42.7 billion in potential investments. This total marks a rise of 16% from 2009, according to Sofofa. Last year’s figures are the highest in five years.
Chile raises basic rate to 4.5%, but more on the pipeline says Capital Economics
The Central Bank of Chile (CBC) hiked interest rates by 50bps to 4.5% on Wednesday but with the near-term outlook for growth very good and inflation likely to top 5% in Q4, further policy tightening is on the way, reports Capital Economics that estimates rates to reach 6% by year-end.
Chile’s 20 major corporations booming with profits up 18% last year
Business is booming in Chile as the nation’s top 20 major businesses increased their revenue by 18% in 2010. The largest increase in profits came from Chile’s mining sector, where profits grew to 10.9 billion US dollars last year, up 60% since 2009.
Mining companies increase investments in Chile in spite of rising costs
Two major mining companies, Barrick Gold and Collahuasi, both plan to dramatically increase investments in their northern Chile gold and copper operations despite rising inflation and increased production costs.
China, second largest copper producer in 2010, ahead of the US and Peru
Chile’s Copper Commission (Cochilco) has predicted that China became the world’s second largest copper producer in 2010, overtaking the United States and Peru.
Chile exports increase 30% in 2010, led by copper and lumber sales
Chile achieved a record year for exports in 2010, according to a report by ProChile. Exports in 2010 were valued to be 69.6 billion US dollars, up nearly 30% from the 2009 figure, 53.7 billion USD.
