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  • SANTIAGO, April 28- New home sales in Chilean capital city Santiago slid 41 percent in the first quarter of 2016, as buyers rushed to purchase houses and apartments last year before a change in tax law that would boost prices went into effect, industry group CChC said on Thursday. Sales of new apartments in greater Santiago fell 44.5 percent, while new house sales...

  • SANTIAGO, April 18- Chilean state-owned miner Codelco said on Monday that operations at its El Teniente copper mine would likely be suspended until Thursday because of torrential rains over the weekend that triggered landslides and caused rivers to breach their banks. Shopping centers and schools were closed throughout the capital, Santiago, as the...

  • April 17- Codelco and Anglo American Plc have suspended operations at two of the world's biggest copper mines in Chile with combined annual capacity of 880,000 tonnes, as heavy rains wreaked havoc across the center of the Andean nation. Chile accounts for a third of global copper production. The London- listed miner suspended mining activities at its flagship...

  • SANTIAGO, April 12- Chile's central bank held the benchmark interest rate steady at 3.5 percent on Tuesday, as expected, and toned down its bias towards future rate hikes. The bank has been grappling with above-target inflation and soft economic growth in the top copper producer. "The most important thing is that the bank modified its bias; it kept the rate hike bias...

  • LONDON, April 12- Do you remember JPMorgan's Physical Copper Trust? Registered in October 2010 with the Securities and Exchange Commission, it was probably one of the most controversial commodity investment vehicles ever conceived. But by the time the SEC approved both products in late 2012, the investment tide had already turned.

  • LONDON, April 11- "In copper we trust." Such was the title of the presentation given by Jerry Jiao, vice president at China's Minmetals Group, at last week's CRU-CESCO conference in Chile. The problem for the copper industry executives meeting in Chile last week, however, is not the bright future but the stormy present.

  • SANTIAGO, April 9- A United Nations body has cut its modest economic growth projection for Latin America in 2016 and is now forecasting an average contraction in regional gross domestic product of 0.6 percent. The Santiago- based Economic Commission for Latin American and the Caribbean, citing low commodities prices and financial market volatility, cut its...

  • *China smelters may use tolling scheme to export copper. HONG KONG, April 7- China may be about to shock the global copper market by unleashing some of its stockpiles of the metal, which are near record highs, onto the global market. Four traders of copper, including two from state-owned Chinese smelters, said they expect China to raise its copper exports- which are...

  • WINNIPEG/ SANTIAGO, April 6- Dealers of used mining equipment, from the United States to Chile and Australia, are making a risky bet that an end to the industry's four-year slump may be in sight, stocking up on a glut of crushers and conveyors. A used 20- ton Komatsu Ltd bulldozer that sold for nearly $130,000 a few years back, now leaves the lot for $100,000, for example.

  • "The first quarter was pretty good for us, production wise, throughput wise," Sierra Gorda General Manager Maciej Sciazko said in an interview at the company's Santiago office. Poland's KGHM owns a 55 percent stake in Sierra Gorda, with the rest held by Japan's Sumitomo Metal Mining and Sumitomo Corp.. The falling prices led KGHM to book a $500 million loss on Sierra...

  • SANTIAGO, April 5- Chile's state copper producer Codelco is slashing spending by $6 billion over the next five years in the wake of a steep fall in the price of copper, significantly reducing its targeted output, Chief Executive Nelson Pizarro said on Tuesday. Added to other cost cuts, that implied around $6 billion spending cuts over the next five years- meaning a...

  • SANTIAGO, April 5- Chile's state copper producer Codelco is slashing spending by $6 billion over the next five years that will cut 13 percent of the world no.1 copper producer's planned output over the next 25 years, Chief Executive Nelson Pizarro said on Tuesday. Added to other cost cuts, that implied around $6 billion of spending slashed over the next five years,...

  • SANTIAGO, April 5- Chile- based copper miner Antofagasta Minerals will focus this year on lowering costs and protecting its margins, but would look at potential acquisitions if attractive mines came on the market, its chief executive said. Antofagasta bought a 50 percent stake in Barrick Gold's Zaldivar copper mine in Chile for $1 billion in cash in July last...

  • SANTIAGO, April 5- Anglo American Plc expects prices for copper to remain low for the next three to five years, prompting the global miner to focus on lowering costs at its mines, the head of the company's copper business said on Monday. We want our assets to be low cost, " Hennie Faul, the head of Anglo's copper business, told Reuters in an interview ahead of the annual...

  • SANTIAGO, April 4- The president of the Chilean branch of Transparency International resigned on Monday after documents from a Panamanian law firm showed he was linked to at least five offshore companies. While Delaveau is not accused of illegal activity, the leaks called into question his post at Transparency International, a German-based organization...

  • *Home prices in big China cities rise, fall in smaller ones. Santiago, April 3- Copper's price rally has come to an abrupt halt and further losses are likely as financial investors get to grips with what the physical market already knows, that Chinese demand is subdued and expected to remain so. Sources in China, others who have recently visited the country's...

  • SANTIAGO, March 29- The world's two largest plane manufacturers forecast on Tuesday that Latin America's commercial fleet will at least double over the next two decades, shrugging off worries about economic woes in regional giant Brazil and elsewhere. As Brazil faces its worst economic crisis in a generation, demand for air travel has fallen sharply, hitting...

  • SANTIAGO, March 29- Boeing Co projected on Tuesday that Latin American airlines will need 3,050 new planes worth some $350 billion over the next two decades, as economic growth accelerates in the region. Sixty percent of Latin America's existing commercial fleet will be replaced in the next 20 years, with the overall fleet size tripling during that time, Boeing...

  • LONDON, March 23- London copper fell on Wednesday, pressured by a stronger dollar after hawkish comments from U.S. A stronger dollar following comments supporting more U.S. interest rate hikes from the heads of the Philadelphia and Chicago Federal Reserves, weighed on metals markets as it makes commodities priced in the currency more costly for buyers outside...

  • SANTIAGO, March 22- The U.N. said on Tuesday that it was worried about the impact of recent events in Brazil on the country's ability to continue fighting poverty and its democratic stability, as it forecast that poverty likely rose in Latin America in 2015.. Brazil has been hit by the worst recession in decades and the administration of President Dilma Rousseff...