Articles for tag: Chilean, invests, million, Movener, SQM, startup

April 26, 2024

Ron Finklestien

mining

SQM invests $2 million in Chilean startup Movener

The company is SQM Lithium Ventures’ fourth investment, joining the UK-based companies Altilium Clean Technology and Salinity Solutions, as well as Electric Era in the US. The funding will help Movener with upcoming commercial endeavours and to further development its hybrid technology. The company has already formed partnerships with large companies such as Walmart and has begun trial projects and initial implementation phases with other important players in the industry. Moving forward, Movener seeks to improve the effectiveness of its technology, aiming for a 25% decrease in fuel consumption, an enhancement from the current 20% savings obtained with their systems.

April 21, 2024

Ron Finklestien

mining

Chilean MP, NGOs demand halt to Nutrex exploration project at Juncal Andean Park

Nutrex requested Chilean authorities a deadline extension to present the required documents to start working in the area, as it had until April 16, 2024, to establish its presence on the site by setting up equipment and some infrastructure but couldn’t do so after being blocked by environmental activists.  If the extension is denied, which is one of the aims of the appeal for protection, activists would have more time to build their case, as Nutrex would have to restart the whole process and this could take up to a year.  “We have gained some time, but we also know

February 8, 2024

Ron Finklestien

mining

Capstone’s $265 Million Funding Boost for Chilean Copper Projects

Capstone Initiates Major Investment in Chilean Copper Operations Capstone, a Vancouver-based miner, has recently raised an impressive $265 million to advance its Chilean copper endeavors, symbolizing a significant and highly anticipated development in the mining sector. The funding will play a crucial role in propelling Capstone’s Mantoverde and Santo Domingo projects to new heights. Funds Allocation and Project Details The company plans to utilize the net proceeds from the offering to enhance its Chilean copper developments, particularly the Mantoverde optimized project and Santo Domingo detailed engineering, as well as for future exploration programs. The Mantoverde project boasts the potential to

January 21, 2024

Ron Finklestien

mining

The Transformation of Glencore’s Lomas Bayas: Impact on Water Rights

Chile’s Loa River, extending 440 kilometers, holds distinction as the country’s longest waterway and the primary river in the Atacama Desert. Minera Lomas Bayas’ general manager, Pablo Carvallo, declared on social media, “This is a historic milestone representing our commitment to sustainable development. Our aim is to enhance the productivity and innovation of our production processes, responsibly and in sync with communities and the environment. Through this accord, we anticipate ameliorating living conditions in the Calama Oasis and contributing to the conservation of crucial ecosystems within our spheres of influence.” Carvallo underscored that relinquishing water rights signifies the company’s quest

January 3, 2024

Ron Finklestien

mining

Chilean Government’s Lithium Partnership Chilean Government Forges New Path with Lithium Partnership

President Gabriel Boric’s bold plan mandates that any company seeking to mine lithium in Chile must form a partnership with the government, with the state possessing a controlling stake. The innovative strategy seeks to not only expand lithium extraction but also utilize cutting-edge eco-friendly technology and incorporate the perspectives of local Indigenous communities. Executives from China’s Tianqi, a significant shareholder in SQM, expressed their investment intentions during a meeting in December. Similarly, LG Energy and France’s Eramet indicated their interest in forming alliances, with the latter looking to explore a partnership in its 120,000-hectare lithium concession in the Atacama region.