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☆ Telefonica sells controlling stake in Peruvian fibre optic network to KKR
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 7 (Reuters) - Telefonica (TEF.MC) has sold a 54% stake in its fibre optic network in Peru to U.S. private equity fund KKR (KKR.N) and 10% to Entel's (ENTEL.SN) local business, the Spanish telecoms group said on Friday, adding that it will retain the remaining 36%. In many markets, the company has separated the infrastructure into different units to maximise the value of its disposed assets. The Spanish company did not disclose the value of the transaction but said the deal would cut its debt by 200 million euros ($217.8 million). The transaction valued 100% of the unit at about 550 million euros, including debt, according to a banking source close to the deal. The new company, Pangeaco, will combine the existing fibre optic network in Peru from Telefonica and Entel, KKR firm said in a separate statement.

Persons: Inti Landauro, Jacqueline Wong, David Goodman Organizations: Telefonica, KKR, Entel, Santander, Thomson Locations: MADRID, Peru, U.S, Spanish

☆ Chile's Codelco must kick-start lithium industry while reviving copper output
▼ + stars: | 2023-06-19 | by ( Fabian Cambero | ) www.reuters.com time to read: +4 min

At the same time, Codelco wants to boost its output of copper which has slumped to its lowest in a quarter-century. Some analysts have questioned whether the copper company with no experience as a lithium miner can tackle both challenges at once. But industry insiders told Reuters Codelco will probably focus its own resources on copper while negotiating contracts for lithium operations and letting other miners do the work. The sources said the lithium strategy was being led by executives including Jaime San Martin, manager of new business development, known by some within Codelco as "lithium man". "But I think lithium is an excellent opportunity for Codelco to help them navigate their very difficult copper situation."

Persons: Ivan Alvarado, SANTIAGO, Gabriel Boric, Codelco, Reuters Codelco, Albemarle, Jaime San Martin, Alejandro Rivera, Maximo Pacheco, Minera, SQM, Pacheco, Juan Carlos Guajardo, Plusmining, Guajardo, Andre Sougarret, Fabian Andrés Cambero, Alexander Villegas, Adam Jourdan, David Gregorio Our Organizations: REUTERS, Reuters, Tesla, BMW, Finance, Salares, Thomson Locations: Chile, Australia, Albemarle, Indonesia, Freeport, McMoRan, Chile's, Berlin, Beijing, Codelco, Santiago

☆ A supernova that exploded in a nearby galaxy is one of the brightest in a decade. Here's how to see it.
▼ + stars: | 2023-06-12 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

A supernova has exploded in the Pinwheel Galaxy 21 million light-years away. Named SN 2023ixf, it sets itself apart by being one of the brightest seen in a decade. The supernova, which appeared in the Pinwheel Galaxy 21 million light-years away, is one of the biggest and brightest in our skies in a decade, Space.com reported. But this supernova, named SN 2023ixf, sets itself apart by its proximity to Earth: it's located in the Pinwheel Galaxy, which is only about 21 million light-years away. The Pinwheel Galaxy is located close to two of the stars in the handle of the Big Dipper.

Persons: —, Space.com, Dan Perley, Kuntz, Mould, Chu, Jacoby, Hanna, Miller, Rodriguez, de Martin, Koichi Itagaki, Webb, Perley, It's Organizations: Galaxy, Service, Liverpool John Moores Observatory, Hubble, Gemini, NASA, ESA, K, JHU, Bresolin, University of Hawaii, Jet Propulsion, University of Illinois, CSA Locations: Urbana, Canada, France, Hawaii, T.A

☆ A new supernova has appeared in the night sky
▼ + stars: | 2023-06-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +2 min

CNN —A sparkling new supernova has appeared in the night sky, and a telescope atop Mauna Kea in Hawaii was perfectly poised to capture the aftermath of the cosmic burst. The supernova was first spotted within the spiral arms of the Pinwheel Galaxy by Japanese astronomer Koichi Itagaki on May 19. The Pinwheel Galaxy is in the direction of the Ursa Major constellation, about 21 million light-years from Earth. The new supernova glimmers bright blue in one of the galaxy’s spiral arms in the bottom left of the image. It’s the second supernova observed in the Pinwheel Galaxy in 15 years.

Persons: Koichi Itagaki, Itagaki Organizations: CNN, Galaxy, Ursa, Pinwheel Galaxy, Gemini Locations: Kea, Hawaii, Yamagata, Japan

☆ Factbox: Ford strikes multiple lithium deals to ramp up EV production
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

COMPASS MINERALS (CMP.N):Ford signed a five-year supply agreement to obtain battery-grade lithium carbonate from Compass' lithium brine development project in Ogden, Utah. Under the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford once production begins. NEMASKA LITHIUM:Nemaska Lithium, owned by Investissement Québec and Livent (LTHM.N), will supply lithium products, including lithium hydroxide, to Ford over an 11-year period. ENERGYSOURCE MINERALS:EnergySource Minerals will supply lithium hydroxide produced at its Imperial Valley, California site which is expected to be operational in 2025. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM):Chile's SQM (SQMA.SN) and Ford have agreed to a long-term lithium supply agreement, the Chilean lithium miner said in a statement Monday.

A super-charged two-year rally, which saw Chinese spot lithium carbonate prices rise by tenfold, went into brutal reverse over the first part of this year. The slump in China's spot price dragged down the whole lithium pricing chain from spodumene concentrate to hydroxide, albeit to highly varying degrees. But lithium's roller-coaster ride highlights the important role China's spot market and the Wuxi futures exchange play in the fast-growing industry's price discovery process. Many lithium buyers, in other words, will be paying higher prices this year whatever happens in the Chinese spot market. The collapse in China's spot price has far exceeded the decline in the price of Australian spodumene, another closely tracked market indicator.

☆ Chile's state miner launches subsidiaries to manage lithium takeover plan
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, May 19 (Reuters) - Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry. The government instructed Codelco in April to begin talks with companies running lithium mining operations in Chile's Atacama salt flats as part of a new lithium strategy that will see the state take majority stakes in all "strategic" projects. As well as talks with the world's two largest lithium miners, Albemarle (ALB.N) and SQM (SQMA.SN), Codelco has also been tasked by President Gabriel Boric's government with developing new alliances. On Thursday, SQM said it expected to begin talks with Codelco in the coming weeks. Reporting by Fabian Andres Cambero; Writing by Sarah Morland; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Allkem, Livent to merge into $10.6 bln lithium giant
▼ + stars: | 2023-05-10 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Lithium producer Allkem Ltd (AKE.AX) has agreed to merge with U.S.-based Livent Corp (LTHM.N) to create one of the world's most valuable producers of the key raw materials used in electric-vehicle batteries. The all-stock deal will create a $10.6 billion entity, the fifth-largest in the world after Albemarle Corp (ALB.N), Sociedad Quimica y Minera de Chile S.A. (SQMA.SN), Ganfeng Lithium Group (002460.SZ) and Tianqi Lithium Corp (002466.SZ). ASX-listed Allkem produces lithium carbonate from its Sal de Vida facility in Argentina, which is near Livent's Hombre Mureto lithium project. Livent, based in Philadelphia, supplies lithium products to multiple U.S. automakers, including General Motors Co (GM.N), Tesla Inc (TSLA.O) and BMW (BMWG.DE). Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm.

☆ LATAM Airlines reverses loss, posts $122 mln net profit in Q1
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - LATAM Airlines (LTM.SN) reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period. The airline, created by the 2012 merger of Chile's LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru. Revenue for Santiago-based LATAM during the quarter rose about 43.2% to $2.8 billion from the year-ago period, boosted by an increase in passenger revenue. Last November, LATAM announced the completion of a years-long restructuring process after it declared bankruptcy in 2020. Reporting by Noe Torres and Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

May 4 (Reuters) - Albemarle Corp (ALB.N) is open to renegotiating its Chile lithium contract before 2043 and would seek access to even more of the country's vast reserves of the metal used to make electric vehicle batteries, CEO Kent Masters told Reuters on Thursday. Albemarle and SQM's contracts only grant access to the Atacama salt flats, or salars, but Boric hopes to open up many other salars across his country for lithium production, a step that will require DLE technologies. Many DLE technologies use lots of potable water and electricity, a limitation that Albemarle has acknowledged and one it is working to limit. Chile and Albemarle could cement their dominant role in the global lithium and EV industries if they can get one or more DLE technology to succeed. Masters declined to comment on Australian lithium developer's Liontown Resources Ltd (LTR.AX) rejection in March of Albemarle's $3.7 billion takeover bid.

☆ Chile's lithium takeover plan faces technical, political challenges
▼ + stars: | 2023-04-28 | by ( Fabian Cambero | ) www.reuters.com time to read: +7 min

[1/3] A view of a brine pool of a lithium mine on the Atacama salt flat in the Atacama desert, Chile, August 16, 2018. REUTERS/Ivan Alvarado/File PhotoSANTIAGO, April 28 (Reuters) - While Chile's plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. CODELCO'S ROLEChile's state-run Codelco, the largest copper producer in the world, plays a key role in Boric's lithium plan although it has no experience in producing the white metal. The report noted that Argentina currently has more lithium projects in the pipeline than any other country in the world. Albemarle has said it needs new water sources to expand in Chile's Atacama salt flat, noting a desalination project was awaiting permits and construction.

☆ Chile, US miner Albemarle hold talks on lithium nationalization plan
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaSANTIAGO, April 25 (Reuters) - Chile's state development office Corfo said on Tuesday it met with U.S.-based miner Albemarle (ALB.N) to discuss the South American country's plan to nationalize the lithium industry. Chile's leftist President Gabriel Boric last week announced that control of the country's vast lithium operations would over time be transferred from Albemarle and SQM (SQMA.SN) to a separate state-owned company. Chile has the world's largest lithium reserves. He added that Albemarle, the world's largest producer of lithium, wants to grow in Chile and in the Atacama salt flat with new technologies.

The country nationalised its copper sector in 1971, provoking international outrage, particularly in the United States. President Gabriel Boric's lithium "nationalisation" is a more benign version, using an even earlier copper model. THE COPPER MODEL - GOOD AND BADIf President Boric's lithium policy is an echo of past copper policy, the comparison is with the "Chileanisation" programme of the Eduardo Frei Montalva administration in the late 1960s. Even the neo-liberals of the Augusto Pinochet regime kept the national jewel in the crown as they opened the rest of the country's' copper sector up to the private sector. It is now Codelco that is tasked with taking control of the country's lithium sector.

☆ Argentina's lithium pipeline promises 'white gold' boom as Chile tightens control
▼ + stars: | 2023-04-24 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

Neighboring Chile, the region's top lithium producer, last week unveiled plans for a state-led public-private model, spooking investors. Bolivia has long maintained strict control over its huge though largely untapped resources, while Mexico nationalized its lithium deposits last year. The country has six lithium projects under construction and 15 in the advanced exploration or feasibility stage, Mignacco said. "Argentina's lithium sector has thrived through a decentralized, pro-market strategy," said Benjamin Gedan, director of the Latin America program at The Wilson Center, adding in contrast Bolivia's lithium sector had "repeatedly stalled as a result of excessive state control." "Chile today produces and exports much more lithium than Argentina," said Natacha Izquierdo, analyst at consultancy ABCEB.

Many DLE technologies use lots of potable water and electricity. SQM (SQMA.SN) and Albemarle Corp (ALB.N), Chile's two existing lithium producers, use evaporation ponds to produce the metal. Livent Corp (LTHM.N) uses a variation of DLE technology in Argentina alongside evaporation ponds. Lake Resources is working with Bill Gates-backed Lilac Solutions Inc to deploy Lilac's DLE technology in Argentina. In Chile, DLE companies see a business opportunity despite the nationalization plans given that Boric's new state lithium company is expected to need technical support.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

The shock move in the country with the world's largest lithium reserves would in time transfer control of Chile's vast lithium operations from industry giants SQM (SQMA.SN) and Albemarle (ALB.N) to a separate state-owned company. "Nevertheless, projects with strategic values for the country, this partnership has to have a majority participation of the state," Boric said. The president added that there will be a division dedicated to advancing technology to minimize environmental impacts, including favoring direct lithium extraction over evaporation ponds. Privately held Summit Nanotech Corp, which is developing direct lithium extraction technology and recently opened a Santiago office, welcomed Boric's announcement. Boric said the country would look to protect biodiversity and share mining benefits with indigenous and surrounding communities as lithium extraction evolves.

☆ Factbox: World's biggest lithium producers
▼ + stars: | 2023-04-21 | by ( Carman Chew | ) www.reuters.com time to read: +3 min

Chile holds the world's largest lithium reserves and is the world's second-largest producer. Australia is the world's biggest supplier, with production from hard rock mines. Rapid growth is forecast to be met by output gains in Australia, Chile and Argentina. WORLD'S BIGGEST MINESGreenbushes, Western Australia, by Talison Lithium (a joint venture of Tianqi Lithium (002466.SZ), IGO (IGO.AX) and Albemarle Corp (ALB.N)). Pozuelos-Pastos Grandes lithium salt lake, Argentina, bought by Ganfeng Lithium (002460.SZ), will produce 30,000 tonnes of lithium carbonate starting 2024, and can potentially be expanded to 50,000 tonnes.

The move would see Chile, the world's second largest lithium producer, shift to a model with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. In early trading on Friday, Chilean firm SQM's U.S.-listed shares slid 6.2%, while Albemarle was down 2.5%. SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mining shares in London fell sharply too.

☆ Factbox: Chile lithium move latest in global resource nationalism trend
▼ + stars: | 2023-04-21 | by ( Matthew Chye | ) www.reuters.com time to read: +3 min

April 21 (Reuters) - Chile's President Gabriel Boric announced on Thursday he would nationalise the country's vast lithium industry to boost the economy and protect the environment. Chile is the world's second largest producer of lithium, a key component in batteries used in electric vehicles. Myanmar accounted for 77% of China's tin ore imports last year, Chinese customs data showed. INDONESIA* A resource powerhouse, Indonesia is tightening controls over various materials in a push to develop local downstream operations and extract greater value. More export bans will also be announced in the coming years in order to develop resource processing industry onshore, he said, speaking at an economic forum.

☆ Barcelona refereeing scandal one of most serious in football, says Ceferin
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] UEFA President Aleksander Ceferin attends a news conference during the 46th UEFA congress in Vienna, Austria, May 11, 2022. REUTERS/Leonhard FoegerApril 3 (Reuters) - UEFA president Aleksander Ceferin said that Barcelona's refereeing scandal is one of the most serious incidents he has seen in football ever since he became involved with it. "I cannot comment directly on this for two reasons," Ceferin told Slovenian newspaper Ekipe SN in an interview published on Monday. So serious that it is, in my opinion, one of the most serious (ones) in football since I have been involved in it." In a statement in February the club denied any wrongdoing, saying it had paid an external consultant who supplied it with technical reports related to professional refereeing, which it claimed was a common practice among professional football clubs.

☆ Mercuria leads funding round for engine tech firm ClearFlame
▼ + stars: | 2023-03-09 | by ( Simon Jessop | ) www.reuters.com time to read: +3 min

[1/2] A flag with the logo of Mercuria commodity trading house is pictured in Geneva, Switzerland, October 11, 2016. ClearFlame, whose technology allows diesel engines to run on more climate-friendly fuels, said the Series B round was also backed by WIND Ventures, the venture arm of Chile's COPEC (COPEC.SN), and existing investor Breakthrough Energy Ventures. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia. Diesel accounts for around 26% of carbon emissions from the transport sector, ClearFlame said, and is also responsible for particulates and black soot. Mercuria's Boris Bystrov said in a statement that its investment reflected a belief that ClearFlame's technology can "economically decarbonise the heavy-duty industry".

☆ Chilean wildfires destroy hundreds of homes, endanger world's smallest deer
▼ + stars: | 2023-02-08 | by ( Ivan Alvarado | ) www.reuters.com time to read: +3 min

"We call on everyone who can to take care of the forests which are currently on fire, and also of our animals, specimens of vital importance," said Valentina Aravena, the manager at a wildlife rehabilitation center in Chillan. Late on Wednesday, Interior Minister Carolina Toha said the government would declare a curfew in some provinces starting on Thursday. In the rehabilitation center in Chillan, the capital of the Ñuble region, veterinarians treated burns on animals native to the woodlands, such as monito del monte, a small nocturnal marsupial, and pudus, the world's smallest deer. [1/7] A Pudu, the world's smallest deer, rescued from a wildfire, receives care from vets at a wildlife rehabilitation center of Concepcion University, as wildfires continue in the central-southern zone of Chile, in Chillan, Chile, February 8, 2023. A day earlier, a Chilean minister warned that high temperatures forecast for this week could further complicate the situation.

MONTREAL/BOGOTA Dec 16 (Reuters) - Latin America is drawing early investment for jet fuel produced from materials like forest residues and palm oil as emission-conscious airlines scour emerging markets for less-polluting fuel to power flights, industry executives say. While most sustainable aviation fuel, or SAF, is produced in the United States, Europe, and Singapore, Latin America is emerging as a budding market. "Latin America right now is really a hot spot for Honeywell." Producing and distributing SAF in regions with faster-growing traffic like Latin America is key to meeting industry targets, said Landon Loomis, Latin America president for U.S. planemaker Boeing (BA.N). And Vibra Energia (VBBR3.SA) is working with Brasil BioFuels (BBF) to produce palm oil-based jet fuel in 2025.

☆ Enel Chile says agreement with Shell to bring $500 mln positive impact
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, Nov 25 (Reuters) - Enel Generacion Chile (ENELGXCH.SN) said on Friday that it reached an agreement with Shell (SHEL.L) to carry out contractual modifications that would have a pre-tax financial positive impact of about $500 million. In a note to local markets regulator, Enel Generacion Chile said the changes are still pending some corporate authorizations that are expected in December. The note said that "among others", one of the changes is the partial disposal of projected excess liquefied natural gas. "It is estimated that the operation will have a positive impact on the pre-tax result of Enel Generacion Chile of approximately USD 500 million," the note added. On Tuesday, Enel , the Chilean subsidiary's parent company in Italy, announced plans to sell $21.5 billion in assets and pull out of certain markets.

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