Articles for tag: benefit, business, Codelco, entry, lithium, Moodys

April 20, 2024

Ron Finklestien

mining

The Bright Future of Codelco: Moody’s Optimistic About Entry into Lithium Market

Codelco’s Strategic Move Chief executive Ruben Alvarado of Codelco recently revealed advancements in negotiations with local communities regarding lithium mining, showcasing the company’s commitment to garnering community support. The mining giant has engaged in discussions with indigenous groups to finalize details of a new joint venture mandated by the state in the Atacama salt flat alongside SQM. In 2023, Chile contributed to approximately 24% of global lithium mine production. Moody’s Positive Projection With the electric vehicle (EV) industry continuing to show a strong interest in lithium, Moody’s anticipates sustained demand for the mineral despite recent price fluctuations. “Codelco is poised

January 26, 2024

Ron Finklestien

mining

Codelco names mining veteran Braim Chiple as CCO

Codelco’s New Chief Commercial Officer Appointment Signals Shift Amid Tough Mining Climate in Chile Codelco Taps Braim Chiple as Chief Commercial Officer In a strategic move amid Chile’s evolving mining landscape, Codelco appoints Braim Chiple as its new Chief Commercial Officer, securing a veteran in the mining industry. Chiple, currently an adviser and senior consultant for copper trading in South America at Mitsubishi RtM, brings a wealth of experience and expertise to his new role. Chile’s Shifting Mining Policy Landscape Chile, the leading copper-producing country and second-largest for lithium, experienced significant policy shifts recently. President Gabriel Boric’s decision to increase

January 26, 2024

Ron Finklestien

mining

Codelco brings veteran Braim Chiple onboard as COO Codelco brings veteran Braim Chiple onboard as COO

As Codelco, the copper giant, grapples with increased costs and decreased production, it has turned to seasoned mining professional Braim Chiple to lead the charge as its new Chief Operating Officer (COO). Previously advising and senior consulting for copper trading in South America at Mitsubishi RtM, Chiple comes into the fold at a time when Codelco is facing an uphill battle. Codelco’s production saw a significant plunge to the lowest level in 25 years in 2022, marking a worrying trend of decline after years of underinvestment in its aging deposits. It now faces the risk of losing its coveted position

January 23, 2024

Ron Finklestien

mining

Codelco’s Strategic Move into Lithium Market Codelco’s Strategic Move into Lithium Market

The Maricunga project, located within the so-called lithium triangle in northern Chile, is estimated to contain about 1.9 million tonnes of lithium carbonate equivalent (LCE). The transaction, which now only needs the Federal Court of Australia’s backing, is expected to conclude on Feb. 23, Codelco said. Chairman Máximo Pacheco expressed enthusiasm about the purchase, stating, “With this purchase, Codelco moves forward with its mandate of becoming leaders in the production of critical minerals for the energy transition.” Chile gave the copper giant a key role in the new public-private model for the sector, announced in April last year, which calls