Chile Financial News

India considers lithium mining royalty at 3% of LME price- govt sources The Reuters report while quoting government sources close to the matter noted, "The auction will happen soon and some overseas miners have shown interest" India has been exploring ways to secure lithium supplies with the first lithium deposits of 5.9 million tonnes found in Jammu and Kashmir in February this year. Lithium reserves were discovered during exploration by the Geological Survey of India (GSI) in the Reasi district of Jammu and Kashmir.

Resource Capital Funds has sold engineering and consulting firm Ausenco for about $900 million in a deal with a US billionaire and private equity firms looking to boost their exposure to battery minerals and energy transition.

agricultural products (Brazil), fuel (Gulf nations, Malaysia), minerals and ores (Chile, Peru, Australia), electronics and chips (South Korea, Japan) and machinery (Germany) to China. Of these, the risk is higher for economies where exports contribute significantly to GDP, because they face sharp growth downgrades if a slowing China cuts back on imports. This means that the US, which exports four times more to China in dollar terms than, say, Chile, is less directly impacted because the US economy is led by domestic consumption rather than exports.

Rio Tinto has quietly entered the lithium land grab unfolding in Western Australia as it looks to secure its future in battery minerals, racking up exploration tenements spanning more than 145,000 hectares in the red-hot jurisdiction that has minted billionaires and fanned takeover battles.

Gold prices were on track for their second straight weekly decline on Friday as U.S. inflation readings for August reinforced market bets for further rate hikes by the Federal Reserve after a likely rate pause next week. FUNDAMENTALS Spot gold was steady at $1,910.85 per ounce by 0100 GMT. Bullion was on track for a weekly decline of 0.4% after having touched its lowest level since Aug.

Davis Cup 2023 Finals Group matches are currently underway, spanning from September 12 to September 17, with the next stage scheduled between November 21 and November 26. This six-day event showcases 16 national teams competing in four European cities, all vying for the opportunity to secure one of the eight coveted spots in the Davis Cup Finals this November. The 16 nations participating in the Finals Group Stage this week have been divided into four groups, each consisting of four teams. These competitive matchups will be held in Bologna, Italy; Manchester, England; Split, Croatia; and Valencia, Spain.

NEW DELHI : The removal of additional duties on imports of American apples, walnuts and almonds will have no effect on growers in Jammu and Kashmir, the Centre said on Tuesday, a day after former chief minister Mehbooba Mufti expressed concern. The Centre said the basic duty of 50% will continue to protect domestic players. India recently lifted additional duties on several American products, including chickpeas, lentils and apples.

Mining baron Anil Agarwal on Tuesday said the Konkola Copper Mines, which returned to his London-based firm Vedanta Resources last week, can be moved to the group's India-listed firm Vedanta Ltd «at the right valuation». Last week, Zambia agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, which is the parent firm of Mumbai-listed Vedanta Ltd. The Zambian government, which owns a 20 per cent stake in KCM, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than USD 1.2 billion to increase output and repay outstanding debts. «Going forward, my thought is that we must maximize synergies between KCM and Vedanta Ltd's refining/smelter businesses in UAE & India,» Agarwal said in a post on X.

SANTIAGO (Reuters) — The presidents of Chile and Mexico called for the strengthening of democracy in Latin America during a joint address on Sunday to commemorate the 50th anniversary of a 1973 coup in Chile, hours after a peaceful march culminated in violent clashes with police.

By Sarah Morland

A federal judge has dealt another serious setback to the proposed Twin Metals copper-nickel mine near the Boundary Waters Canoe Area Wilderness in northeastern Minnesota

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 growth in the most optimistic scenario.

LIMA (Reuters) -Peruvian miner Minsur has announced an investment of at least $2.25 billion as it expands its copper operations, the country's mining ministry said on Thursday.

Fintech company Circle announced a partnership with Mercado Libre on Aug. 29 to bring the USD Coin stablecoin to Mercado Pago.

The dealmaking interest in ASX-listed lithium miners has spilled over to their unlisted counterparts.

By Anna-Catherine Brigida

By Peter Frontini

By Howard Schneider, Ann Saphir and Balazs Koranyi

Amidst the expected chill of winter, Brazil finds itself grappling with an unexpected challenge: scorching heatwaves that are defying seasonal norms. The National Institute of Meteorology has issued a concerning report, revealing that over 11.5 million residents of Sao Paulo are confronting the impact of soaring temperatures, which have surged nearly 10 degrees above the average of 24.5 degrees Celsius.

Cryptocurrencies like Bitcoin (BTC) have failed to reduce but rather have “amplified financial risks” in less developed economies, according to a new study published by the The Bank for International Settlements (BIS).

Perth-based engineering group Monadelphous expects to secure more resources and energy contracts after its annual net profit rose 2.5 per cent to $53.5 million, boosted by higher income from a renewable energy joint venture.