ANTOFAGASTA REGION
Kutch Copper, Codelco in pact for strategic exploration
Adani’s Kutch Copper and Chile’s Codelco have signed an MoU to explore the Kaburkaala copper project in Chile, strengthening Adani’s access to global copper resources and linking upstream assets with its Mundra smelter.
Mundra to Chile, Adani amps up the volume of its heavy metal rock
Adani Group has signed an agreement with Codelco to explore a copper project in Chile. This partnership aims to ensure a secure supply of copper for its operations in Mundra, Gujarat. The agreement comes amid rising copper demand in India and a need for more imports.
Adani eyes Chile's copper riches: Kutch Copper and Codelco sign MoU to explore Kaburkaala project
Adani Group's Kutch Copper Ltd has signed an MoU with Chile's state-owned Codelco to explore the Kaburkaala copper project in northern Chile. The partnership aims to combine Adani's investment and technical capabilities with Codelco's geological expertise, potentially securing long-term copper supplies for the group's Mundra smelter as India seeks to strengthen its domestic copper supply chain.
Atacama’s pristine skies face light pollution risks despite cancellation of nearby energy project
Chile's Atacama Desert, a prime spot for stargazing, faces ongoing threats to its clear night skies. A proposed energy project near a major observatory was cancelled, but weak regulations could allow similar developments. Scientists warn that light pollution and dust can disrupt crucial astronomical research. Efforts are underway to strengthen protections for these vital dark sky zones.
Copper hits one-month high as US-Iran talk hopes lift metal prices
Copper prices hit a one-month high as renewed hopes for US-Iran dialogue lifted sentiment across global commodity markets. LME and Shanghai copper futures jumped, supported by stronger Chinese demand, tighter supply conditions and a softer US dollar. Other base metals, including aluminium, nickel and zinc, also advanced amid improving risk appetite.
European shares log second weekly gain, focus on Trump-Putin talks
European shares experienced a slight dip, influenced by declines in tech and financial sectors, even as investors eyed the U.S.-Russia summit. While miners and healthcare showed gains, corporate earnings painted a mixed picture. Pandora's significant fall due to weakening sales and Standard Chartered's probe call impacted market sentiment.
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Pakistan mulls selling its Reko Diq shares to Saudi Arabia, anticipates $10 billion refinery deal
The federal government of Pakistan is considering selling its shares in the Reko Diq project to Saudi Arabia to attract investment. The revised agreement states that Barrick Gold Corporation holds 50% of the shares, while Antofagasta has withdrawn. Three federal government agencies own 25% of the project, and Balochistan owns the remaining 50%. The newly established Special Investment Facilitation Council has requested that the deal with Saudi enterprises be completed in the coming months.
Trade war truce triggers surge in European shares
The oil sector also jumped 2.6 per cent as crude soared on the trade war truce.
Mark Zuckerberg loses $16.8 billion in a snap as Facebook plunges
His fortune tumbled as shares of Facebook slid 20% in post-market trading on disappointing results.
Chilean President inaugurates construction of world's largest telescope
Santiago, May 27 (IANS) Chilean President Michelle Bachelet inaugurated the construction of the world's largest optical and infrared telescope, to be located at the Paranal Observatory in the Antofagasta region.
BHP Billiton to build $3.5 bn Chile water plant
BHP Billiton is seeking approval to build a US$3.5 billion water desalinization plant to service its Escondida copper mine in northern Chile, one of the world's top sources of the metal, a company spokesman said Saturday.
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