AGP Executive Report

Mining: A fatal landslide at Codelco’s El Teniente mine killed two workers and forced a partial suspension, tightening supply and lifting copper prices. Workers at Antofagasta’s Centinela mine are also on strike after wage talks failed. Energy: ENGIE has begun operating its 142MW, 802MWh battery at Mejillones. Grenergy secured $457 million to develop a 446MW solar and 1.8GWh storage portfolio, while EnergyX signed a $2 billion, 10-year lithium supply deal with Trafigura covering production planned in Chile and the US. Copper and critical minerals: Cobre outlined a staged expansion at Sierra Atacama, targeting 25,000 tonnes of copper cathode a year, with longer-term potential of 50,000 tonnes. Aclara and CAP also inaugurated a rare-earth metals and alloys demonstration plant in Chile. Agriculture: Early spring rains split some northern cherry crops, though the impact in the main producing region appears limited so far. Lower Peruvian supply could create an opening for Chilean blueberries, with exports forecast to rise 2% this season.

Mining: Codelco partially suspended operations at El Teniente after a landslide killed two contractor workers; the south pit remains halted as investigators examine the incident. Copper prices rose amid supply concerns and easing rate-hike expectations. Copper investment: Cobre paid about US$12 million to raise its stake in the Sierra Atacama project to 62.86%, gaining control of the producing mine and its expansion plans. Clean energy: Grenergy secured about US$460 million for a Chilean portfolio combining 446 MW of solar capacity with 1.8 GWh of storage. Critical minerals: Aclara and CAP opened a demonstration plant in Chile to produce rare-earth metals and alloys. Aquaculture: Universidad de Los Lagos and local partners are developing a market for farmed turbot, aiming to scale production and eventually target Brazil and the United States. Industrial technology: Chile freed 60 MHz of spectrum in the 2.3 GHz band for private 5G and industrial use.

Rare Earths: Aclara and CAP have opened a Chilean demonstration plant to produce neodymium-praseodymium metals and alloys, testing technology for a planned U.S. facility. Recycling: A study finds about 80% of cosmetics sold in Chile use plastic packaging, with greasy residue making many containers difficult to recycle. Clean Energy: Grenergy secured about US$460 million to develop 446 MW of solar capacity and 1.8 GWh of storage in Chile. Copper Mining: Workers at Centinela are on strike after contract talks failed; unions warn November output could be cut by half. Codelco is also investigating signs its reported copper production for 2024 and 2025 was overstated. Industrial Technology: Chile has freed 60 MHz of spectrum for private 5G networks and industrial use.

Critical Minerals: Aclara and CAP opened a Chilean demonstration plant for rare-earth metals and alloys, designed to produce up to 175 kg a day and test technology for a planned US facility. Renewable Energy: Grenergy secured about US$460 million for a Chilean portfolio combining 446 MW of solar capacity with 1.8 GWh of storage. Copper Mining: Unions at Centinela warned a strike could halve November output, while Hot Chili reported shallow copper-gold results at a Chilean discovery. Salmon Farming: A new vaccine alliance is targeting salmon rickettsial syndrome, which industry leaders say costs Chilean producers about US$750 million annually. Industrial Connectivity: Chile freed 60 MHz of spectrum in the 2.3 GHz band for private 5G and industrial use.

Salmon Farming: Chile’s salmon sector is targeting a disease that costs an estimated $750 million a year. The Yelcho Alliance’s new director plans to improve vaccines and cut reliance on antibiotics. Renewable Energy: Grenergy secured about $460 million for a Chilean portfolio combining 446 MW of solar capacity with 1.8 GWh of storage. Mining: A strike at Centinela could halve the mine’s November copper output, unions warn. Separately, Aclara and CAP opened a demonstration plant for rare-earth metals and alloys. Industrial Technology: Chile freed 60 MHz of spectrum in the 2.3 GHz band to support private 5G networks and industrial use. Agriculture: Chile’s kiwifruit area and prices are growing, but the sector still needs to win over consumers.

Salmon Farming: Chile’s salmon industry faces an estimated $750 million annual cost from SRS disease. The new head of the Yelcho Alliance plans to accelerate vaccine research and reduce reliance on antibiotics. Renewable Energy: Grenergy secured about $460 million for 446 MW of Chilean solar projects and 1.8 GWh of battery storage. Copper Mining: FLSmidth won a $54 million order for a Chilean copper mine, while workers at Centinela struck after wage talks failed, raising the risk of a sharp November production cut. Critical Minerals: Aclara and CAP opened a demonstration plant in Chile for rare earth metals and alloys. Industrial Connectivity: Chile freed 60 MHz of spectrum for private 5G networks, supporting industrial use. Copper Oversight: Codelco is probing signs that its reported 2024 and 2025 production figures were overstated.

Renewable Energy: Grenergy secured about US$460 million in financing for 446 MW of Chilean solar projects and 1.8 GWh of battery storage, its largest financing deal to date. Mining: Unions at Centinela warn a strike could cut November output, adding to copper supply concerns; Codelco is also investigating potentially overstated production figures for 2024 and 2025. Industrial Technology: Chile freed 60 MHz of spectrum for private 5G networks, opening capacity for industrial use. Critical Minerals: Aclara and CAP inaugurated a demonstration plant for rare-earth metals and alloys, advancing plans to develop domestic processing. Agriculture: Chile’s kiwifruit sector is expanding amid stronger prices and demand, but growers face the challenge of sustaining consumer interest as new plantings lift future supply.

Industrial Connectivity: Chile freed 60 MHz in the 2.3 GHz band for private 5G networks, opening more spectrum for industrial uses and future 6G. Copper Supply: Unions at Centinela say the strike could cut the mine’s November output by half; Antofagasta maintains its production outlook. Critical Minerals: Aclara and CAP opened a Chilean demonstration plant to make rare-earth metals and alloys, with capacity of up to 175 kilograms a day. Clean Energy: Chile approved a 158 MW solar project paired with 1.3 GWh of battery storage. Mining Oversight: Codelco is probing signs that its reported 2024 and 2025 copper production was overstated. Santiago Flooding: Heavy rain triggered evacuations and a catastrophe declaration in Las Condes, as emergency crews respond to damage to homes, vehicles and infrastructure.

Marine Ingredients: IFFO warns global fishmeal supply could fall below 4.6 million tonnes in 2026, its lowest since 2016. Chile was among the countries with stronger raw-material intake in August, but output across surveyed producers remained well below last year. Rare Earths: Aclara Resources and CAP have opened a demonstration plant at Huachipato to produce rare-earth metals and alloys, targeting up to 175 kilograms a day. Renewable Energy: Chile approved Sidon Solar, a 158-MW project with 1,296 MWh of battery storage designed to shift power into evening hours. Copper: Workers at Antofagasta’s Centinela mine are on strike after talks failed, adding to supply concerns as Codelco investigates potentially overstated copper production figures for 2024 and 2025.

Copper Supply: Copper prices rose as Chinese buyers returned from holiday, with supply concerns sharpened by a strike at Chile’s Centinela mine. Antofagasta says projected output is unchanged, though unions report mine movement and development have largely stopped. Mining Investment: Hot Chili reported broad copper-gold intercepts at La Verde ahead of a maiden resource estimate. KGHM and South32 have also launched a US$725 million Chilean copper expansion. Industry and Oversight: Codelco is investigating signs that its 2024–25 production figures were overstated. Separately, Subtel and OnLab are promoting industrial use of 5G and 6G, while Metso secured a $26 million order to modernize a Chilean thickener. Trade and Services: Panama Canal restrictions are driving more ships around South America, with Strait of Magellan pilot requests up 70% year-on-year in August and September. Puerto Cisnes is preparing to welcome its first cruise ship in November, a boost expected to support local businesses. Food Exports: The recall of frozen Chilean blueberries in the US was expanded over E. coli concerns.

Copper Mining: Workers at Antofagasta Minerals’ Centinela mine began a strike after government-mediated talks failed. Unions are seeking equal benefits for all workers; the company says projected output is unchanged. Codelco Audit: The state miner is investigating possible double-counting of copper production at two divisions in 2024 and 2025, adding to scrutiny of its reporting. Critical Minerals: Aclara Resources and CAP inaugurated a Chilean demonstration plant to produce rare-earth metals and alloys, while Aclara is expanding separation tests for additional rare earths using Chilean and Brazilian feedstock. Industrial Connectivity: Subtel and OnLab will run real-world pilots to advance 5G, 5.5G and 6G adoption in key sectors. Food Safety: A recall of frozen blueberries from Chilean supplier Frutas y Hortalizas del Sur has widened to products sold at Walmart and Trader Joe’s after an FDA inspection raised concerns about company records. Fisheries: Fishmeal and fish oil production improved in August, with Chile among the contributors, but global year-to-date output remains sharply below 2025 levels.

Codelco Copper Audit: Chile’s Codelco is investigating possible double-counting and over-reported copper production for 2024 and 2025, after new findings suggested the same material may have been recorded by more than one division, potentially inflating output from the Ministro Hales and Salvador units; the probe was sent to prosecutors and an external audit was commissioned. Rare Earths Expansion in Chile Supply Chain: Aclara Resources is expanding its Louisiana rare-earth separation demo (Project Dynamo) to include yttrium, gadolinium and samarium, with added solvent-extraction circuits and a bigger demo footprint—using feedstock linked to its ionic clay deposits in Chile and Brazil. Mining Market Watch: Hot Chili confirmed its Costa Fuego copper-gold resource and reserve base is unchanged and moved to full ownership of the San Antonio deposit, while Capstone Copper set its late-October timetable for September-quarter results after consolidating Chile’s Mantoverde and Santo Domingo district. Shipping & Trade Routes: Drought at the Panama Canal is rerouting more vessels through Chile’s Strait of Magellan, with traffic up sharply in August and September as operators seek alternatives. Maritime Industry Build: ASENAV’s Magellan Discoverer completed sea trials in Chile and is set to deliver later this year as a hybrid-electric expedition ship for polar cruising. Food & Seafood Inputs: IFFO reported an August uptick in fishmeal and fish oil production, but warned 2026 supply is still expected to hit near-decade lows, with Peru’s anchovy season closure weighing on totals. Chile Wine to Miami: Wines of Chile will debut Chile Wine Fest in Miami on Oct. 14, bringing about 20 wineries and a pisco-focused program to the U.S. market.

Mining & Metals: KGHM and South32 will invest US$725M to expand Chile’s Sierra Gorda copper-molybdenum mine, aiming to lift annual copper output by ~20% and boost processing capacity to 60Mt/y, with completion targeted for end-2029 and full capacity in 2H-2030. Energy Transition: Turbo Energy says 62.5 MWh of AI-managed battery storage is now operating across three industrial sites in Spain under a larger storage rollout (366 MWh total). Food & Agri-Industry (Chile): Europastry bought a majority stake in Chile’s Alicomer, adding local production of sourdough/slow-fermentation breads for supermarket chains. Water & Agriculture (Chile): The Aconcagua Valley fruit sector launches the WAVE Aconcagua Partnership to tackle water scarcity, drought impacts, and regenerative transition plans across major crops. Commodities Markets: Copper prices edged up on risk-on sentiment and AI-driven data center demand, while Chilean output fell in August and labor actions at Centinela added supply risk. Gold Trade Watch: Asia’s gold producers are increasingly pushing domestic refining, export taxes and central-bank buying, a shift that could support prices over time.

Lithium & Processing in Chile: CleanTech validated Laguna Verde’s process route, producing lithium carbonate up to 99.75% purity in a Santiago pilot using 24 m³ of brine, with results independently verified—next step is the definitive feasibility study. Mining Pipeline: Andrada Mining reported new Lithium Ridge drilling showing intersections above 1.5% lithium oxide, plus tin and tantalum mineralisation, reinforcing upside across its licence. Copper & Services: Metso won a ~€16m thickener modernization order in Chile, retrofitting three high-rate thickeners with new drives and feed systems to boost throughput and water recovery for a large mining operation. Exploration Watch (Chile): FMR Resources began its maiden diamond drilling at La Martuca within the La Lorena project in central Chile, with initial holes targeting areas below and along strike from artisanal workings. Trade & Logistics: Air Canada Cargo moved 1 tonne of Philippine Carabao mangoes to Vancouver in a time-sensitive shipment that cleared customs smoothly. Maritime Policy: Chile reiterated its bid to host the High Seas Treaty HQ in Valparaíso despite earlier moves to pause marine park expansions.

Brazil Election Shock: Flávio Bolsonaro surged ahead of Luiz Inácio Lula da Silva in Brazil’s first round, setting up a Oct. 25 runoff and likely boosting market sentiment on expectations of tighter fiscal policy. Chile Mining & Water: Camino’s Puquios copper project in Coquimbo cleared a key step as Chile’s DGA confirmed it can start diversion and channeling works after a US$1.7m water guarantee. Chile Processing Equipment: Metso won a ~EUR 16m thickener modernization order in Chile to boost throughput, underflow density and water recovery for a major mining operation. Energy Storage Regulation: A regional energy-storage discussion highlights that Latin America’s growth is being held back by regulation gaps and weak grid infrastructure to absorb renewables. Copper Watch: Copper prices bounced on softer US jobs data, while Chilean output fell to the lowest since 2011 and Antofagasta’s Centinela mine faces strike risk. Solar Supply Chain Shift: US crystalline silicon solar module imports fell 78% as domestic manufacturing expands under IRA incentives. Trade & Critical Minerals: Indonesia and Chile explored green mining and critical-minerals ties, while Chile also features in broader mineral-supply forum momentum.

Salmon Industry: Cooke Chile has filed two new USD 6m proposals with Chile’s Environmental Assessment Service (SEA) to relocate parts of multiple salmon grow-out centers in Aysén, consolidating output into two new sectors with capacities up to 8,000 MT (Atlantic salmon) or 3,640 MT (coho) per 15-month cycle. Critical Minerals & Green Mining: Indonesia and Chile are exploring a Green Minerals partnership MoU focused on green mining tech, investment platforms, and ocean-based distribution, with both sides pointing to battery and electric-vehicle ecosystem cooperation involving Codelco and Freeport Indonesia. Food Safety Recall: A Chilean supplier expanded an E. coli recall affecting frozen berries sold in the US, including Trader Joe’s Organic Mixed Berry Blend and Walmart’s Great Value Organic Triple Berry Blend, raising concerns for products often eaten without cooking. Trade & Logistics: The Falkland Islands Chamber of Commerce defended reopening trade with Chile’s Magallanes region, saying the Punta Arenas business push will only be a success once cargo routes resume by sea. Time Policy Debate: New analysis argues health evidence favors permanent standard time over permanent daylight saving time, after some jurisdictions move to end seasonal clock changes.