Chile

BHP is considering the sale of a desalination plant and power lines in Chile. The assets are linked to the La Escondida mine, the world's largest copper mine located in the Antofagasta Region.

Rafael Enrique Gámez Salas, accused of leading the Tren de Aragua gang in Venezuela, is being extradited to Chile for allegedly orchestrating the kidnapping and killing of dissident Ronald Ojeda. U.S. officials in the Trump administration have continued collaboration with Venezuelan Interior Minister Diosdado Cabello, who is under investigation for allegedly ordering the crime, despite prior U.S. charges against him and the Tren de Aragua gang.

Chile is restructuring its pension system by replacing five multifondos with ten generational funds based on age, marking the largest shift in pension investing in decades. The pension managers oversee approximately $260bn, and new rules will dictate how these funds are invested. The mechanism involves comparing managers' performance against a reference portfolio.

LATAM is holding an extraordinary shareholders meeting on August 3 to vote on a buyback program. Chilean company law limits buybacks to 5% of paid shares over five years, and a previous 2025 meeting authorized 1.6%. Last year, two programs spent $585 million across roughly 5% of shares.

Chile's goods exports reached $60.354 billion between January and June, a 14.2% increase. Copper accounted for $30.236 billion (50.1% of total exports), while lithium exports surged to $3.218 billion, up 34.4% year-over-year.

Chile reduced fuel prices for the fourth consecutive week, with 93-octane petrol dropping CLP100.3 per litre and 97-octane falling CLP99.8. Diesel saw the largest decrease at CLP155.4 per litre, while vehicle LPG fell CLP22.1. Kerosene prices remained unchanged.

Former central bank president Vittorio Corbo estimates a 30% chance of Chile entering a technical recession, noting that June activity must not decline by 0.5% from May to avoid it, following a 0.9% monthly activity drop.

Chile's foreign minister promoted the country as a stable and competitive investment destination to the US Chamber of Commerce, highlighting the Choose Chile initiative aimed at attracting foreign investment in mining, energy, and technology sectors through lower corporate taxes and long-term tax benefits.

The article highlights Argentina's Messi miracle, Colombia's toxic handover and World Cup heartbreak, Chile's drought grid, and Mexico's Toyota blow. These events reflect a mix of triumph and challenges across Latin America.

Chile's S&P IPSA rose 0.57% to 10,883 on July 7, driven by gains in banks and retailers. The peso weakened to 928.57, while copper prices remained near $6.19.

Chile’s government is considering a preventive power-rationing decree as drought and reduced rainfall linked to a delayed El Niño, combined with offline power plants, strain the energy grid. The grid operator issued a yellow flag warning due to tighter supply conditions this winter.

Chinese fishing vessels are increasingly using Chilean ports, shifting from Peru, with port calls surging from a handful in 2023 and 2024 to over a hundred, according to Oceana. The fleet targets Humboldt squid just outside Chile’s waters.

Foreign investors are purchasing Chile’s local-currency government debt at a record pace, with the Chilean 10-year government bond yielding 5.6% in June 2026, down from a year earlier. The Kast era began as Finance Minister Jorge Quiroz addressed economic developments.

PriceSmart, an American warehouse-club chain, is entering Chile as its first market in the Southern Cone and 14th overall. The company will implement a Costco-style membership model, requiring annual fees of $40 to $80 for bulk purchases at near-wholesale prices.

Chile’s president visited Uruguay to promote a Pacific trade corridor and urged Uruguay to join the initiative. Uruguay agreed to join Chile’s Santiago Accord against organized crime. The visit included a meeting between Chile’s president and Uruguay’s leader.

Chile is seeking new military cargo planes to replace its C-130 Hercules fleet, with Embraer’s KC-390 competing against Airbus’s A400M. The procurement process involves multiple rivals as Santiago evaluates replacements for its existing aircraft.

The World Bank established an Andean Countries Division to oversee $9 billion in active lending across Bolivia, Chile, Colombia, Ecuador, Peru, and Venezuela. Ariel Yepez was appointed as the division's director, effective July 1.

SQM-Codelco Venture is working to increase lithium production in Chile's Atacama Desert. The venture focuses on a brine pool at a Sociedad Quimica y Minera de Chile (SQM) lithium mine located on the Atacama salt flat.

Chile's President José Antonio Kast called for life sentences for leaders of organized crime and total prison isolation to prevent gang operations from behind bars during an official visit to Uruguay. He made these remarks after meeting with Uruguayan President Yamandú Orsi.

Chile's IPSA fell 0.18% on July 2 but remained above recent levels as copper prices and the peso stayed stable. The stock index maintained its breakout despite the minor decline.

Hernan Gil, a 43-year-old security guard, was rescued after nearly eight days trapped beneath rubble in Venezuela following one of Latin America's worst earthquakes. The operation involved rescuers from seven countries and marked a rare success in a disaster that killed nearly 2,300 people and left tens of thousands missing.

Uruguay's President Yamandú Orsi and Chile's President José Antonio Kast agreed to enhance bilateral cooperation against transnational organized crime following a summit in Montevideo. Their joint statement also covered security, fisheries, Antarctica, the bi-oceanic corridor, and economic integration during Kast's official visit.

Chile's IPSA stock index declined 0.26% to 10,812 on July 1 after a three-day rally, with copper prices and a stable peso supporting the market trend. The index had previously reached 10,827 during the rally.

The Vera C. Rubin Observatory in Chile has initiated a 10-year survey to capture the largest cosmic time-lapse in history.

Brazil and Mexico experienced economic declines, while Chile led in copper performance and Colombia unexpectedly raised interest rates to 12%. The report highlights mixed economic trends across Latin American countries on July 1, 2026.

Chile's IPSA rose 0.71% to 10,840 on June 30, marking a third consecutive gain as stronger copper prices and a stable peso supported mining companies. The index broke through a weeks-long resistance level during this rally.

The Vera C. Rubin Observatory, housing the largest digital camera ever built, has begun a decade-long survey of the southern sky from a Chilean mountaintop. The project aims to map billions of stars and galaxies, study dark matter and dark energy, and capture repeated images to detect faint celestial objects.

Keiko Fujimori's victory in Peru's presidential runoff prompted regional congratulations, with leaders framing the result as part of a broader shift to the right in Latin America. Fujimori's potential leadership would join right-wing governments in Argentina, Ecuador, Chile, Paraguay, El Salvador, and Colombia.

Chile's IPSA stock index rose 0.53% to 10,763 on June 26, marking a second consecutive gain driven by stronger copper prices and a steadying peso. The exchange was closed on Monday, but mining companies benefited from the improved copper market.

Brazil sent five F-39E Gripen fighters to Chile's Salitre 2026 exercise, marking the jet's first deployment outside Brazil. The move highlights Brazil's efforts to promote the aircraft for export.

Chile's stock market rose 0.53% to 10,763 for a second consecutive day, driven by firm copper prices that boosted mining companies and a steadying peso after last week's decline.

Latin America has experienced a rightward political shift, with right-leaning leaders elected or installed in several countries. Chile's José Antonio Kast and Bolivia's Rodrigo Paz are in office, while Colombia's de la Espriella and Peru's Keiko Fujimori are presidents-elect. Argentina's Javier Milei is part of this trend, aligning the region with Washington.

Chile's unemployment rate increased to 9.1% in the February–April 2026 quarter, up 0.3 points from a year earlier. Unemployment has remained at or above 8% for 38 consecutive months, exceeding three years.

Argentina and Chile joined the US-led AI supply-chain bloc Pax Silica, which aims to counter China's influence in critical minerals. The bloc, expanded to 24 nations including Japan and South Korea, added five new members at a June 26 Washington summit.

Venezuela experienced rare back-to-back deadly earthquakes, killing and injuring hundreds. The article lists several of the deadliest earthquakes in Latin America over the past century, including events in Mexico, Ecuador, Chile, Peru, and others, with death tolls ranging from hundreds to over 66,000.

Rare back-to-back deadly earthquakes hit Venezuela, killing and injuring hundreds. The article lists some of the deadliest earthquakes in Latin America over the past century, including events in Mexico, Ecuador, Chile, Peru, and others with significant death tolls.

Venezuela experienced two deadly earthquakes, resulting in hundreds of casualties. The article lists some of the most significant and deadly earthquakes in Latin America over the past century, including events in Mexico, Ecuador, Chile, Peru, and other countries with varying death tolls.

Chile's IPSA stock index fell 0.88% to 10,675 on June 24, marking a second consecutive decline despite copper prices rising over 1%. The drop was attributed to a weaker peso and a global retreat from risk, indicating external factors rather than domestic issues.

The U.S. hantavirus quarantine has ended with no cases reported domestically, following an outbreak linked to the MV Hondius cruise ship. The CDC confirmed the response concluded on June 24, 2026, after 13 cases (including three deaths) were identified, primarily among passengers evacuated to a Nebraska quarantine facility.

Chile's largest retailer, Cencosud, is acquiring a premium São Paulo supermarket chain to shift its focus from affordable to upscale stores, targeting Brazil's wealthiest shoppers.