tag:blogger.com,1999:blog-84826001704515776102024-03-13T12:50:18.688-07:00Chile Business NewsUnknownnoreply@blogger.comBlogger62125tag:blogger.com,1999:blog-8482600170451577610.post-36798963422431028862010-01-22T08:30:00.001-08:002010-01-22T08:30:25.764-08:00Parrilladas Argentinas to open sixth restaurant in VitacuraArgentine grill restaurant Parrilladas Argentinas will open its sixth branch in Vitacura, on the same spot where Piccola Italia used to be. This Italian food chain went bankrupt in 2008. The sixth Parrilladas Argentinas unit will require CLP 50mn (EUR 71,364.95 USD 100,684.66) and should open on 15 February 2010.<br />
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Publication: Esmerk - News monitoring <br />
Provider: Esmerk <br />
January 22, 2010Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-70204422357187665912009-12-07T10:44:00.000-08:002009-12-07T10:44:00.530-08:00Yamana to take on full control of El PenonAfter ten years of exploiting the gold- and silver-mine El Penon in Chile, the constructor Gardilcic has sold up the entirety of its operations to Canadian company Yamana Gold, already the owner of the reserve. Yamana is working to a strategy of total control of its operations. El Penon is to be found 165 kilometres south-east of Antofagasta and boasts an annual production capacity of over 400,000 ounces of gold equivalent, explains country manager for the gold group, Ricardo Palma Contesse. The transfer of operational responsibility will actually occur on January 5, 2010, although Gardilcic will remain on site for four more months.<br />
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Publication: SABI - Business News <br />
Provider: South American Business Information <br />
December 6, 2009Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-8482600170451577610.post-66481983696167624972009-12-06T19:44:00.000-08:002009-12-06T19:44:09.850-08:00CGE Distribucion launches energy saving products and servicesChilean energy company CGE Distribucion has launched a new range of energy saving products and services in Chile, including energy saving services for industry, LED lighting and solar energy. LED lighting could be sold into various areas, such as building developments, manufacturing, car parks, traffic lights as well as railway and maritime signalling.<br />
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Publication: Esmerk - News monitoring <br />
Provider: Esmerk <br />
December 4, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-42627750864009348442009-12-04T20:12:00.000-08:002009-12-04T20:19:27.898-08:00Consorcio Financiero to take regional stake in Compass Group<a href="http://3.bp.blogspot.com/_V1HsFHDkD7Q/SxnfQOcbJdI/AAAAAAAAAbc/kw28IJlvtuU/s1600-h/compass.bmp"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 258px; height: 42px;" src="http://3.bp.blogspot.com/_V1HsFHDkD7Q/SxnfQOcbJdI/AAAAAAAAAbc/kw28IJlvtuU/s400/compass.bmp" border="0" alt=""id="BLOGGER_PHOTO_ID_5411601897110578642" /></a>Chilean financial services group Consorcio Financiero will swap its 50% stake in Compass Group Chile for a 15% stake in the latter's Americas franchise, which includes offices in the US, Argentina, Colombia, Mexico and Peru.<br /><br />Consorcio Financiero will also buy Compass Group's 12.5% stake in the fund manager which Consorcio operates with Chilean stock broker and investment banking firm LarrainVial, local press reported. As a result, Consorcio will end up with 25% of the fund manager and LarrainVial will hold the remainder. Compass Group on its part will step up its business focus on institutional investors and high net worth clients, both in Chile and in the Americas.<br /><br />Publication: Business News Americas - English News <br />Provider: Business News Americas <br />December 4, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-90847948654538778642009-10-24T17:00:00.001-07:002009-10-24T17:00:31.367-07:00Lafarge renamed as Melon, new directors appointedLafarge Chile has ceased to exist. Its cement company in Chile has been renamed Melon SA, which was the name it used to have before Lafarge bought it. The firm's board has been expanded to ten members, as opposed to seven as Jorge Carey, Patricio de Solminihac and Juan Claro Gonzalez, all members of the previous board, have been appointed as directors. Lafarge's assets were acquired by Peruvian holding Brescia some time ago. The firm is building a new plant which will add an extra 600,000 tonnes per year of production capacity.<br /><br />Publication: Esmerk - News monitoring <br />Provider: Esmerk <br />October 23, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-15665714541353493642009-09-29T12:09:00.000-07:002009-09-29T12:12:21.838-07:00Sales of sports footwear and clothing increases by 15%<a href="http://1.bp.blogspot.com/_V1HsFHDkD7Q/SsJcCdu_TeI/AAAAAAAAARQ/Rr1ehQevtyk/s1600-h/jogging1.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 133px; height: 200px;" src="http://1.bp.blogspot.com/_V1HsFHDkD7Q/SsJcCdu_TeI/AAAAAAAAARQ/Rr1ehQevtyk/s200/jogging1.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5386969301699743202" /></a>Sport is becoming increasingly popular in Chile over recent years, a fact which has been noted by the sports clothing and food sectors. Nike has estimated that annual sector sales over the last five years have increased on average by 15%, with overall yearly sales of footwear and clothing in Chile standing at USD 700mn (EUR 475.87mn). <br /><br />Jogging and running has become an increasingly important activity and consolidated sales growth in the sector, according to Adidas, has surpassed 150% over the last three years. Nike forecasts a 35% increase for jogging related equipment, mostly trainers, in 2009. Adidas stated that there were 12,000 participants in the 2007 Adidas marathon and the company expects this to increase to 20,000 in 2010. Sports club Balthus has indicated that its industry has grown at 10% in terms of volume (especially in Greater Santiago) and there is plenty of room for growth. <br /><br />Balthus expects its revenues to reach USD 10mn in 2009, similar to its 2008 results, and is planning to expand operations in Argentina and Peru. Correspondingly, sales of healthy foodstuffs have increased, including US nutritional products company Herbalife, which has increased the number of its distributors from 2,700 in 1998 to 22,000 in 2009 and volume sales have increased nine-fold. <br /><br />Chile: Publication: Esmerk - News monitoring <br />Provider: Esmerk <br />September 29, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-17579903826078757362009-09-05T22:12:00.003-07:002009-09-05T22:12:54.194-07:00Hotelga expects hotel occupancy rate to fall by 18% year-on-yearMauro Magnani, the Chairman of the Chilean federation for the hotel and gastronomy industry (Hotelga), has revealed that the occupancy rate in Chilean hotels is expected to be down by 18% year-on-year in 2009. According to Magnani 2010 is expected to be a more positive year, but Chile needs to be promoted more abroad. The Hotelga Chairman has called on the State to inject more resources so that the industry can penetrate new markets. Magnani has indicated that most of the tourists that visit Chile come from France, the US and Germany.<br /><br />Publication: Esmerk - News monitoring <br />Provider: Esmerk <br />September 4, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-55344229322603893922009-08-31T21:33:00.000-07:002009-08-31T21:34:22.960-07:00Saieh buys first chunk of RipleyAlvaro Saieh has bought into Ripley, acquiring a 5% stake 95 days ahead of the deadline he and the Calderon family had thrashed out not so long ago (early May 2009). The owner and controller of the supermarket chain SMU and also the financial group Corpbanca, Saieh is still negotiating his entry into the controlling shareholders' pact regarding the retail chain Ripley. He has spent US$44.3mil on the stake and can buy a further 15% of Ripley from Marcelo Calderon before the end of November. If the option is taken up, Calderon will receive US$178mil for a 20% stake (until yesterday, he owned 42% of Ripley); if Saieh is also welcomed into the pact before December, Calderon will receive US$198mil for the stake. <br /><br />Publication: SABI - Business News <br />Provider: South American Business Information <br />September 1, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-6412248801902595002009-08-29T20:38:00.001-07:002009-08-29T20:38:54.630-07:00Besalco begins building new housing projectsChilean construction group Besalco is reactivating its property-sector plans and studying new energy-sector opportunities. Diversification enabled the company to double its profits in the first half of 2009, its general director, Paulo Bezanilla, noting that the capital increase of almost Peso$30bil planned for early September should give the firm the wherewithal to benefit from the economic green shoots he observes.<br /><br />Besalco has begun the construction of the first stages of three housing projects this month via investment of almost US$20mil. One of the schemes is based in Puente Alto, the other two in San Bernardo. The property sector only provides 8% of operational income for the firm but the division is a very active one in both Chile and Peru (where in ten years Besalco has built 3,000 homes). Its Peruvian activities provide 20% of Besalco profits.<br /><br />Publication: SABI - Business News <br />Provider: South American Business Information <br />August 29, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-7246920109748024272009-08-29T20:34:00.000-07:002009-08-29T20:35:25.811-07:00La Polar sets sights firmly on ColombiaThe general director of La Polar, Pablo Alcalde states that of late the markets have misread the retail sector and he has persuasive arguments to offer, mainly contained on the Chilean chain's balance sheet profits for the department-store group grew 50% in the first semester, a better result than its better-known brethren Cencosud and Ripley. Aimed mainly at the social classes C3 and D, La Polar is at work on expansion into Colombia, where it plans to open six stores in the coming years. In Chile, it will open another six through 2010-2012 too, using the funds that will be raised in the capital increase La Polar had approved on Friday (of Peso$50bil). The plan is to buy stores in Colombia, sell them off and lease them back.<br /><br />Publication: SABI - Business News <br />Provider: South American Business Information <br />August 29, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-9840402276545776022009-08-29T20:31:00.000-07:002009-08-29T20:32:27.320-07:00Celulosa Arauco acquires Tafisa in BrazilCelulosa Arauco, via its filial Placas do Parana, has paid US$165,2mil for the assets of the Brazilian reconstituted wood manufacturer Tafisa, owned by Sonae group that has a 640,000 m3 capacity at Parana state. Placas is also assuming debts of US$62mil, thus the acquisition would cost US$227mil. Charles Kimber, corporate matters manager with Arauco, says the move would enlarge the company share in the Brazilian market from 11% to around 22%. Arauco runs 605,000 m3 of MDF and should increase it to 1,2mil m3. As of Jan 2008 the Chilean Masisa has purchased 37% on Tafisa in a US$70mil deal, but its association with Sonae did not worked out and the stake went back to Sonae.<br /><br />Chile: Publication: SABI - Business News <br />Provider: South American Business Information <br />August 29, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-36544687060773396512009-04-18T07:20:00.001-07:002009-04-18T07:21:10.352-07:00HydroChile submits EIS for US$80mn hydro projectChilean renewable power firm HydroChile submitted an EIS for the construction of a US$80mn hydro project in the Diguillín river valley in region VIII, according to documents filed with national environmental regulator Conama.<br /><br />Pending approval, two run-of-the-river plants would be built 82km east of Chillán to add a total of 24MW of capacity to the central SIC grid.<br /><br />The first part of the project dubbed Aguas Calientes, Central A, has a planned capacity of 13.5MW. Central B will add 10.5MW of capacity to the grid.<br /><br />HydroChile expects to have the project operating by third quarter 2013, according to the documents.<br /><br />Construction could begin in 2010, and HydroChile has held meetings with both local environmental authorities and residents.<br /><br />The company earlier in the month submitted an EIS for the US$140mn, 50MW Río Puelche hydro project set for region VII.<br /><br />In 2008, HydroChile submitted environmental studies to develop the 27MW El Paso plant and the 24MW San Andrés projects, both run-of-the-river plants planned for region VI.<br /><br />The company is planning other projects and aims to inject around 250MW into the SIC by 2012, BNamericas previously reported.<br /><br />Publication: Business News Americas - English News <br />Provider: Business News Americas <br />April 17, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-27956304748886538892009-03-29T21:44:00.001-07:002009-03-29T21:45:03.366-07:00Grupo Claro analyzes selling share in logistics firmsChilean investment group Grupo Claro has asked local brokerage and financial services firm Celfin to analyze the sale of the company's stake in the Urenda group, local paper El Mercurio reported. <br /><br />The negotiations include Urenda's CCNI cargo handling firm, of which 13.0% is owned by Claro. The firms have not reached an agreement on the price of this operation, according to the report. <br /><br />German bank HSH Nordbank is working with Claro to restructure the group's assets in the maritime sector. Celfin has been advising the group since February, studying alternatives for Claro's stake in Urenda's port logistics firm Agunsa as well. <br /><br />Claro owns 26% of Agunsa through its company SAAM. The estimated price of this share is US$62mn, the report said. <br /><br />Among the alternatives being analyzed are selling the stocks or incorporating a strategic partner. <br /><br />According to the paper, the transaction is expected to go through before the end of H1. Sudamericana de Vapores (CSAV), also owned by Claro, declined to comment on the news. <br /><br />On March 22, CSAV vice president Arturo Claro denied plans to sell SAAM in an interview with El Mercurio. <br /><br />Publication: Business News Americas - English News <br />Provider: Business News Americas <br />March 27, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-12592234845873795292009-01-11T21:06:00.000-08:002009-01-11T21:09:13.248-08:00Transelec projects USD 53.2m transmission line in ChileChilean power transmission company Transelec SA presented on Friday a USD 53.2 million (EUR 39.5m) project for a new transmission line. <br /><br />The line will run between Transelec's Nogales and Polpaico substations in the central metropolitan region of Santiago and the neighbouring Valparaiso region. It will be a double-circuit 220 kV line, the idea being to transform it into a simple-circuit 500 kV line in the future. <br /><br />The project is in line with the company's efforts to meet the growing electricity demand in Chile. <br /><br />The construction is projected to start in June this year and to be completed in April 2010. <br /><br />Transelec (www.transelec.cl) owns over 8,000 km of transmission lines throughout the country. <br /><br />Publication: ADP News<br />Provider: AII Data Processing Ltd. <br />January 12, 2009Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-23704938213928835812008-12-21T11:32:00.000-08:002008-12-21T11:32:00.189-08:00Wal-Mart Announces Tender Offer for Ownership of D&SWal-Mart Stores, Inc. today announced it will launch a tender offer to acquire all of the issued and outstanding shares and American Depositary Shares of Distribucion y Servicio D&S S.A. (DYS).<br /><br />The tender offer price is denominated at US$0.408 per common share. This offer price represents a premium of approximately 37.4 percent over the average closing price for the prior 30 trading days.<br /><br />"Moving into Chile is an important step in implementing Wal-Mart International's strategy. We continue to focus on portfolio optimization, global leverage and winning in every market," said Michael T. Duke, vice chairman, Wal-Mart Stores, Inc. "A successful tender offer will give Wal-Mart the opportunity to be a significant participant in Chile, which continues to have a strong and growing economy among South America countries."<br /><br />The tender offer is expected to commence Dec. 23, 2008 in the United States and Chile. Wal-Mart has set as a minimum condition of the tender offer, the acquisition of at least 50.01% of D&S's fully-diluted common shares. In order to demonstrate their support for the offer, the Ibanez family, the existing controlling stockholders of D&S, have agreed to tender a portion of their D&S shares. These controlling shareholders will enter into a long-term stockholders' agreement with Wal-Mart regarding D&S, which will continue to operate with its existing leadership, associates and brands.<br /><br />According to Craig Herkert, President and CEO, the Americas, Wal-Mart International, "This investment demonstrates our deep respect for D&S, which has a long history of providing the best value to Chilean consumers. We share a laser focus on price leadership just as we do in Wal-Mart's 10 retail markets throughout the Americas. Both companies also have the same core values and business philosophies: respect for the individual, service to the customer and striving for excellence."<br /><br />About Wal-Mart Stores, Inc.<br /><br />Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a partnership, in India. The Company's securities are listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting http://www.walmartstores.com. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.<br /><br />About Distribucion y Servicio S.A.<br /><br />D&S is a Chilean company whose stock is traded in the national and international Stock Exchanges. It is made up of a group of companies whose core business is food retail through different supermarket and hypermarket formats aimed at satisfying customers' diverse needs. It covers the whole country, from Arica to Punta Arenas.<br /><br />Publication: PR Newswire<br />Provider: PR Newswire<br />December 20, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-48429838980951457922008-12-20T11:15:00.000-08:002008-12-20T11:16:15.807-08:00Eolic Partners Chile projects USD 175m wind park in CoquimboChilean-based wind project developer Eolic Partners Chile SA projects to build a USD 175 million (EUR 125.8m) wind park located 265 km north of the capital city of Santiago.<br /><br />The wind park is planned to have 38 wind turbines, each of 2 MW, according to the environmental impact declaration for the project, presented to the local authorities on Thursday.<br /><br />The project, named Gorgonia wind park, will be built in the Punitaqui community in Chile's Coquimbo region and will be connected to the 220 kV line Los Vilos-Pan de Azucar of the central transmission grid SIC.<br /><br />Eolic Partners Chile is participated by German capitals and is linked to the wind farm developers Eolic Partners of Spain and Ostwind and Aufwind of Germany.<br /><br />Publication: ADP News<br />Provider: AII Data Processing Ltd. <br />December 22, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-27211571008868631022008-12-11T11:30:00.000-08:002008-12-11T11:30:01.653-08:00Moller & Perez Cotapos to build Clinica BicentenarioAs announced back in October 2008 by the specialist press, the firm Moller & Perez Cotapos has been awarded the contract at tender for the building of the Clinica Bicentenario at an investment cost of US$87mil. The clinic’s construction is a project put together by the Camara Chilena de la Construccion (CChC). It will consist of two buildings, an eight-floor clinic and a 20-storey tower-block for related activity, Fernando Leon, general director of the clinic. Building work should finish in 2010. Moller & Perez Cotapos is somewhat of a specialist in hospital construction: it is currently at work on the Arica hospital and participated in the remodelling of the Clinica Santa Maria.<br /><br />Publication: SABI - Business News<br />Provider: South American Business Information<br />December 10, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-24954391809867460742008-12-10T19:25:00.000-08:002008-12-10T19:32:46.163-08:00Golborne leaving Cencosud with his head held highLaurence Golborne Riveros (aged 47) will leave his job as general director of Chilean retail giant Cencosud on January 31, 2009, after seven years and ten months at the helm. The group posted a turnover of US$1.5bil in the year 2000; it will close 2008 with sales of US$10bil. Poached away from Gener on the basis on his austerity, plain-thinking and creativity by Horst Paulmann, Golborne employed all sorts of financial artifices to finance the group's colossal expansion (flotations, capital increases, link-ups with investors, bond issues etc). The most impressive was a share exchange that allowed Cencosud to buy department-store chain Paris. The departing executive oversaw a frenzied seven-month period last year in which Cencosud entered nations three, four and five (after Chile and Argentina), namely Colombia, Brazil and Peru.<br /><br />Publication: SABI - Business News<br />Provider: South American Business Information<br />December 10, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-32048296067665534822008-09-30T16:33:00.000-07:002008-09-30T16:34:03.526-07:00Transelec acquires massive coverageTranselec has carried out the biggest coverage operation in its history, one to the tune of US$645mil, the Chile-based electricity transmission group controlled by Canadian capital turning to a consortium formed by Deutsche Bank, HSBC and JP Morgan. Transelec's vice-presidente de finanzas, Marcelo de Petris adds that the sum is the largest ever committed in an operation of this kind in Chile and that the idea is to protect shareholders such as Brookfield Asset Management from stock-market volatility. This coverage operation serves to set the exchange rate at the levels of mid-2006, Peso$530 per US$1. <br /><br />Publication: SABI - Business News<br />Provider: South American Business Information<br />Date: September 30, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-41776952885202280692008-09-10T19:58:00.000-07:002008-09-10T20:00:26.252-07:00Molymet proposes capital increase, more directorsChilean molybdenum products producer Molymet reported it plans to call a shareholder meeting to propose a capital increase and the addition of more directors to its board.<br /><br />The capital increase, for which Molymet did not specify an amount, is to be carried out through the issue of shares over three years, the company said in a statement to securities regulator SVS.<br /><br />Molymet sold 37,581t of molybdenum products in this year's first half for US$1.45bn in revenues and US$75.2mn in net earnings.<br /><br />Created in 1975, Molymet has operations in Chile, Mexico, Germany and Belgium. The company's products include molybdic oxide powder and briquettes, ferromolybdenum, perrhenic acid, rhenium metal powder and pellets, and ammonium dimolybdate. The products are used in specialty steelmaking, the chemicals industry, and metallic and superalloys.<br /><br />Publication: Business News Americas - English News<br />Provider: Business News Americas <br />Date: September 10, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-39762861456789302892008-09-08T14:19:00.001-07:002008-09-08T14:19:53.222-07:00Brazil MPX Energia Expands Castilla TPP Project in ChileBrazilian energy firm MPX Energia expanded its project for the construction of the Castilla coal-fired thermoelectric power plant (TPP) in Chile to 2,100 MW, the director of MPX in Chile, Luis Hormazabal, said, as reported on September 7, 2008.<br /><br />Thus, the total investment in Castilla would reach $4.5 bln (3.109 bln euro).<br /><br />Initially, the project contemplated the installation of an installed capacity of 1,400 MW in Punta Cachos, northern Atacama region, with the first generators due to kick off in 2012.<br /><br />With the expansion, Castilla will be developed in three stages of 700 MW over the next 10 years.<br /><br />This is the second largest electricity project in Chile after the 2,750 MW hydroelectric project HidroAysen of the local power producers Endesa Chile and Colbun.<br /><br />Publication: Business Digest<br />Provider: AII Data Processing Ltd. <br />Date: September 8, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-62483356266389249902008-09-03T07:19:00.000-07:002008-09-03T07:19:00.872-07:00Rio Tinto extends Cu exploration JV in Chile with CodelcoRio Tinto has signed two more joint-venture agreements with the world`s largest copper producer Codelco for copper exploration in Chile.<br /><br />The agreements with Codelco`s subsidiary CCM Los Andes include the exploration of the Estel and Paloma prospects in northern Chile and follow the first joint agreement signed between the two companies in January (MB Jan 24).<br /><br />Rio Tinto has the option to acquire a 55% interest in each prospect through stand-alone exploration investments of $20 million. The agreements include provisions to increase Rio Tinto`s ownership to 60%.<br /><br />"We are very pleased to enter into these additional agreements which strengthen Rio Tinto`s relationship with Codelco and provide access to some of the most prospective copper tenement in the world," Rio Tinto Copper ceo, Bret Clayton, said in a statement on Tuesday.<br /><br />The Esteli property adjoins the Exploradora mine, which was subject to the first joint venture agreement between Rio Tinto and Codelco, while the Paloma property is located close to the copper mines at Spence and El Tesoro. <br /><br />An exploration drilling programme is currently underway at Exploradora and will be followed by drilling at Paloma this year.<br /><br />Rio Tinto has several additional copper exploration properties under title which are scheduled for drill-testing later this year.<br /><br />Publication: Metal Bulletin<br />Provider: Metal Bulletin com<br />Date: September 2, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-8108612571151597062008-09-02T14:46:00.000-07:002008-09-02T14:48:12.680-07:00Chile's CAP aims to replace 20% of Andean steel importsChile's CAP Group recently announced a major expansion plan for its steelmaking arm, Compañía Siderurgica Huachipato (CSH), and now it aims to become a major steel supplier to Andean countries.<br /><br />Steel Business Briefing learns from local reports that after CSH's expansion to 3m tonnes/year, the group intends to trade a 400,000 t/y surplus in finished products with neighbouring markets, such as Peru, Ecuador and Colombia.<br /><br />The group already has operations abroad within Latin American countries, such as Tupemesa in Peru and Tubos Argentinos, in Argentina.<br /><br />CAP is eyeing an opportunity to replace imports into the Andean region. Peru, Colombia and Ecuador are thought to import over 2m t/y of steel products, SBB is told.<br /><br />Publication: SBB - Steel Business Briefing<br />Provider: Steel Business Briefing<br />Date: September 1, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-82206496340126782072008-08-29T15:10:00.000-07:002008-08-29T15:19:18.683-07:00Chilean miner and Wisco discussing partnership in iron oreChilean miner Minera Santa Bárbara (MSB) is negotiating a joint venture with Chinese steelmaker Wisco to develop iron ore reserves in the country, Steel Business Briefing learns from Australia’s Admiralty Resources, MSB’s parent company.<br /><br />According to the group, the Chilean iron ore producer has at least eight mines not operating, which “would be suitable for such co-development."<br /><br />MSB operates at Atacama, northern Chile. Currently, the company has a sales contract with Wisco. Both parties are also negotiating a new supply contract for a period of five or ten years.<br /><br />Admiralty also says it is in advanced negotiations to acquire a 40% stake owned by Wyndham Explorations in MSB. This will allow the Australian group to reach a 100% ownership of the Chilean miner.<br /><br />Publication: SBB - Steel Business Briefing<br />Provider: Steel Business Briefing<br />Date: August 29, 2008Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8482600170451577610.post-57362847923078348892008-08-15T08:23:00.000-07:002008-08-15T08:24:36.439-07:00Mainstream Renewable Power gets investmentDublin-based Mainstream Renewable Power has received a boost from news that Barclays Capital is to invest Euro 20m in the venture. Airtricity founder Eddie OConnor is trying to raise Euro 200m to make the company one of the big players in the renewable energy industry. Our plan is to go to investors with a series of commercial opportunities later this year and to raise enough equity to develop them. Funds from the sale of equity will go towards procuring wind turbines, the company said. Mainstream launched just six months ago and has already signed a deal to provide up to 240MW of wind energy in Chile. <br /><br />Publication: Euclid Infotech - Utilities News<br />Provider: Euclid Infotech <br />Date: August 14, 2008Unknownnoreply@blogger.com0