AGP Executive Report

Inflation Watch: Chile’s consumer prices rose 0.6% in August, faster than expected, with food and non-alcoholic beverages up 1.4% and transport also pushing higher. Copper & Markets: Copper extended its rally to a record $14,533/metric ton as smelter treatment charges hit zero, shifting value toward ore and tightening supply dynamics. Mining Deals: German group Saria bought 36.5% of Chile’s Fiordo Austral, aiming to expand salmon meal and oil commercialization and grow in strategic markets. Energy & Industry: Chilean Cobalt Corp. updated exploration at its El Cofre concessions, including new trench sampling and plans for more comprehensive channel work. Regional Finance: Nuam, the Colombia-Chile-Peru exchange group, is nearing its third anniversary with stronger trading and higher listed market value across the three markets. Culture & Youth: Years of Culture brought a free film festival to Santiago, pairing international cinema with a youth panel on migration and identity. Public Health: A frozen triple berry blend recall tied to an E. coli outbreak widened in the U.S., with Chilean supplier Frutas y Hortalizas del Sur named in the latest update.

US-LatAm Diplomacy: US Secretary of State Marco Rubio begins a Colombia-to-Ecuador-to-Peru tour aimed at backing pro-Washington governments, boosting security cooperation, and discussing reconstruction after Colombia’s Aug. 10 earthquake. Copper Policy: Chile’s Cochilco says the country should raise output reliability at existing copper smelters before building new ones, warning that low processing fees and tighter concentrate supply are reshaping incentives. Copper Markets: Copper hit a new record on the London Metal Exchange at $14,533/ton as tariff fears and mine supply disruptions collide with strong demand. Chile-Malvinas Shipping: A Chilean company plans a regular Punta Arenas–Malvinas route in November, potentially triggering Argentina sanctions tied to hydrocarbon activity. Crypto Fallout: Chile’s Tether-backed Orionx shuts down after a $7M custody gap, freezing withdrawals while a restitution plan is pending. Business/Tech: Worley has been tapped by BHP for study and EPCM work on potential copper expansion projects in South Australia. Culture & Tech in Chile: AI-built Chilean artist EMM4 debuts with “Pelis de Amor,” blending music, dance, and projected visuals.

Copper Surge & Chile Trade: Copper hit a new all-time high on the London Metal Exchange as tariff fears and US buying drained nearby stocks, while Chile still posted a trade surplus of $1.453bn in August (+8.8% year-on-year) despite weaker copper shipments. Copper Supply Pressure: Analysts point to a longer-term supply gap as ageing mines struggle, plus Chilean output issues and weather disruptions that are already forcing production cuts. USMNT Coaching Plans (Chile angle): Mauricio Pochettino says the US will mix World Cup veterans with rising talent for friendlies that include matches against Chile, with roster decisions and culture changes underway. Chile Business & Exports: India’s DGFT rolled out an Open API for Certificates of Origin, a reminder of how faster trade paperwork can matter for exporters. Culture & Screen: Chile’s Daniela Vega and Alfredo Castro are set to star in “School of the Americas,” with Panamanian co-director Abner Benaim joining the project. Public Safety: A ski hotel fire in Chile’s Pinto region forced about 150 guests to evacuate as flames spread through multiple facilities.

Chile Politics & Memory: Thousands marched in Santiago for the 53rd anniversary of the 1973 coup, denouncing President José Antonio Kast’s cuts to funding for memory and human-rights institutions. Copper Watch: Copper hit record highs, but analysts say prices may need to rise further to close a supply gap driven by tougher conditions for new mines. Regional Energy & Industry: A South American lithium alliance—Argentina, Bolivia, Chile and Peru—signed a joint declaration to coordinate supply of critical minerals as the US pushes to counter China’s dominance. Chile in the Spotlight (Sports): At the US Open, Germany’s Alexander Zverev advanced after beating Chile’s Alejandro Tabilo, while Coco Gauff also reached the last 16. Food Safety (Chile-linked recall): Chilean supplier Frutas y Hortalizas del Sur expanded a Walmart frozen-berry recall tied to an E. coli outbreak, now involving 16 states. Global Climate Finance: UN climate chief Simon Stiell said COP29 climate-finance talks agreed on a $300bn-a-year target by 2035 and a push toward $1.3tn annually.

Chile Crypto Watch: Orionx, a Tether-backed Chilean exchange, is permanently shutting down after a forensic audit found a $7M+ custody shortfall and moved customer assets to wallets outside its control; withdrawals are suspended and more than 100,000 users face an uncertain recovery as the company files criminal complaints and former executives deny wrongdoing. Food Safety: A Walmart recall expanded for frozen berry blends tied to an E. coli O145 outbreak, with 17 reported illnesses and six hospitalizations; the Chile-linked supplier’s product is among those pulled as officials trace the contamination. Politics & Sovereignty: Argentina’s President Javier Milei used a national TV address to push tougher Malvinas/Falklands resource penalties and a new security council model, keeping tensions with the UK in the spotlight. Mining & Markets: Antofagasta cut its 2026 copper production outlook even as H1 profits surged, rattling copper-linked stocks. US Open (Chile in focus): Alexander Zverev advanced after beating Chile’s Alejandro Tabilo, while Coco Gauff also moved on as several Americans were eliminated. Culture & Media: Venice’s journalism-themed slate spotlights war reporting, including the Gaza documentary “Citizen Osama.”

US Open Shockwaves: Chinese qualifier Zheng Qinwen rallied from 0-5 down to stun Madison Keys and reach the last 16, while several Americans crashed out, including Taylor Fritz and Amanda Anisimova. Chile in Sports Spotlight: Chile’s Alejandro Tabilo pushed Alexander Zverev to a tight moment before falling, and Filipina Alexandra Eala edged into a tense matchup against Iva Jovic. Crypto Fallout in Chile: Orionx, a Chile-based exchange with 100,000+ users, halted withdrawals and is shutting down after an audit found a $7M financial shortfall, with claims of illegal activity and criminal complaints tied to founders. Economy & Jobs: A new analysis points to Chile’s weak confidence and rising unemployment (9.5%) despite government tax and incentive reforms. Health & Environment: Chilean researchers are testing copper-and-zinc vests to help injured Humboldt penguins heal as nest numbers have dropped sharply. Chile-Linked Business: Sacyr won a Chile concession for 110 km with an $800M investment, adding to infrastructure momentum.

US Open (Chile link): Alexander Zverev, Taylor Fritz and Flavio Cobolli headline US Open Day 7 action, with Zverev set to face Chile’s Alejandro Tabilo and Fritz taking on Argentina’s Francisco Cerundolo. Politics & democracy in the region: A new survey highlights strong support for democracy in Argentina and Chile, but also a notable share of people willing to accept non-democratic rule if it delivers results—especially in security-focused El Salvador. Chile in culture: Actor John Malkovich says he has “no plans to retire” ahead of Venice premiere “Wild Horse Nine,” a dark comedy set around the 1970s Chile coup. Health & science (Chile): Researchers in Chile are testing copper-and-zinc vests to help injured Humboldt penguins heal, as nests decline sharply. Economy & infrastructure (Chile): Sacyr has been selected for Chile’s Route 57 Santiago–Colina–Los Andes concession, a 110-kilometer upgrade with major tunnel and lane works. Society (Chile): Young Chileans are increasingly turning away from the Church, with tarot, reiki and astrology filling the gap. Sports (Chile): Chile’s unemployment hit a record high level in five years, adding pressure to government goals.

Infrastructure & Trade: Sacyr Concesiones has been selected to run Chile’s Route 57 Santiago–Colina–Los Andes concession, covering over 110 km with an ~€800m construction budget and ~€2.8bn in expected revenues over 20 years, including lane expansions, a new Chacabuco tunnel, upgrades to Route G-71, a new Route 57–Route 5 connection, and new bike lanes, walkways and electronic tolling. Education & Learning: UNESCO is preparing to release ERCE 2025 results, the region’s key primary education assessment, with first findings due in December 2026 on Grade 3 reading/math and Grade 6 reading/math/science. Health & Food Safety: Chilean frozen blueberry supplier Frutas y Hortalizas del Sur S.A. is linked to an E. coli outbreak reaching 17 confirmed illnesses; the FDA has placed products on import alert and recalls have expanded across multiple U.S. states, with shoppers urged to check freezer lot codes. Environment & Innovation: Chile’s Conservacion Humboldt is using copper-and-zinc therapeutic “BodyCobre” suits to speed recovery for injured penguins, working with Kimba Vet and Universidad Catolica del Norte. Politics & Public Life: Former Chile Senate president Camilo Escalona has died at 71 after months of prostate cancer treatment, with condolences from President Kast and tributes across Chile’s political spectrum. Science: ESO’s VLT in Chile has achieved “first light” with MOONS, an 8-meter telescope instrument that can map spectra from a thousand stars at once, including deep Milky Way regions.

Chile–India Trade Talks: India is weighing Chile’s push for market access on a handful of farm and horticulture items against its own caution on opening agriculture, while also trying to secure critical minerals supply as negotiations near a possible October wrap-up. Strait of Magellan Diplomacy: Chile and Argentina moved to cool tensions over the Strait of Magellan after Milei’s visit, with both sides reaffirming Chile’s sovereignty in line with existing treaties, even as an Argentine “joint control” decree remains. Protests in Santiago: Hundreds of students marched against the Madrid Forum and Kast’s security reforms, with clashes in Plaza Italia and criticism that the event revives Pinochet-era ideas. Foreign Investment Rules: Chile’s Congress approved a tax stability regime for qualifying foreign investors, fixing tax burdens via state contracts, though key details will depend on future regulations. Food Safety Alert: A multistate E. coli outbreak tied to Chilean frozen berries has expanded, with Walmart recalling Great Value triple berry blend in 16 states. Aviation Capacity Push: Chile’s airlines want more flights without new airports by extending hours at regional terminals, including 24-hour operations at La Araucanía and plans for six more airports.

Chile-Argentina Diplomacy: Chilean President José Antonio Kast met Javier Milei in Santiago to cool tensions over the Strait of Magellan, with both sides reaffirming the 1881 Boundary Treaty and 1984 Peace and Friendship framework. Security Protests: Hundreds of Chileans clashed with police in Santiago over Kast’s security plan, with protesters comparing it to Pinochet-era tactics. Falklands/Malvinas Fallout: Milei escalated Argentina’s Falklands stance, threatening tougher sanctions on oil firms and announcing a naval base in Tierra del Fuego, while Kast reiterated Chile’s support for Argentina’s “legitimate sovereignty rights.” Copper Watch: US July refined copper imports hit a record, with 46% coming from Chile as tariff uncertainty drives stockpiling. Culture & Film: Chilean director Fernando Guzzoni returns to Venice with “Land of the Savages,” while “Wild Horse Nine” (set around the 1973 coup) premiered at the festival. Sports: Chile’s Alejandro Tabilo awaits after Alexander Zverev reached the US Open third round; and Chile-based freeride skier Julia Whitaker bounced back from crashes to win in Chile.

Chile & Biodiversity Recovery: Chile’s Atacama and Coquimbo islands are seeing a rebound after rat and rabbit eradication, with more plants and marine life and a boost for bird, dolphin and whale watching tourism. Wildlife Care Innovation: Researchers in Santiago have designed copper-and-zinc vests to help injured Humboldt penguins heal faster during El Niño, as nest numbers fall amid fishing-net entanglement, plastic pollution and food stress. Film & Politics in the Spotlight: Martin McDonagh’s Venice competition premiere Wild Horse Nine stars John Malkovich and Sam Rockwell as CIA-linked operatives in 1973 Santiago, with the director directly targeting the CIA’s historical role in coups. Sports & Culture: Argentina will pause matches in the 10th minute for a minute of applause to honor Lionel Messi after his international retirement. Global Logistics: DHL Global Forwarding acquired Uruguay’s Aero Cargas, giving it a direct Uruguay presence and linking the country into its PAC cluster.

Chile–Brazil Sports: Chilean midfielder Erick Pulgar has signed a new long-term contract with Flamengo, keeping him at the Brazilian club until December 2029. Chile–Environment & Health: Chilean researchers are testing copper-and-zinc vests for injured Humboldt penguins to speed healing during El Niño, as the species faces major pressure from fishing nets, plastic pollution and food shortages. Chile–Education Policy: Chile’s IESED-Chile and ISFODOSU are strengthening educational research standards through an academic scientific writing workshop aimed at turning classroom studies into higher-impact work for policy and practice. Chile–Economy & Jobs: A report flags pressure on Chile’s government goals amid a weak economy, while Chilean unemployment is reported at a record high for the past five years. Chile–Mining & Markets: Chile-linked mining stories include Freehill Mining’s aggregates rebound after severe weather disruptions, plus broader copper-sector jitters reflected in Capstone Copper’s cost pressures and share moves. Global Trade: India is pushing free trade deals with partners including Chile, aiming to improve access to about 75% of world trade.

Chile Economy Watch: Chile’s weak activity and labor data are adding pressure to President José Antonio Kast’s agenda, with the Monthly Economic Activity Index down 1.5% y/y in July and unemployment at 9.5% (May–July), the highest since 2021. Food Policy: India’s proposed red warning labels for sugar, salt and saturated fat are drawing backlash from health experts and industry, while Chile is cited as a reference point after its 2016 black octagon system. Health Tech (Chile): Cleerly says a study led by Clínica Alemana de Santiago (Chile) links AI-based coronary plaque measurements with longer-term cardiovascular outcomes, presented at ESC 2026. Environment & Science (Chile): Snowstorms hit Chile’s Atacama Desert, disrupting major astronomy operations and bringing unusual rain to Taltal. Culture (Chile): Chilean actor Alfredo Castro’s dark family comedy “After Elena” premieres at TIFF on Sept. 11. Business/Logistics: DHL Global Forwarding acquired Uruguay’s Aero Cargas, integrating it into its Peru–Ecuador–Argentina–Chile cluster.

Student Protests: Chile’s ACES student group is calling for a protest on Thursday, Sept. 3 at 10:30 a.m. at Baquedano Metro, opposing President José Antonio Kast’s tax reform, the Protected Schools Act, and a proposed public security emergency without parliamentary approval. Copper Watch: Copper prices pushed above $6.6/lb as Chile’s July output fell 9.4% year-on-year, tightening global supply and keeping traders focused on disruptions and shipment shifts amid possible new US tariffs. Climate Risk: Scientists warn Chile’s Andes face a growing threat of glacial lake outburst floods, as rapidly melting glaciers create unstable lakes and weaken surrounding slopes—an issue already seen in Argentina’s past. Sports (Global): Lionel Messi announced his retirement from international football after 21 years with Argentina, ending a record 207 matches and 125 goals, while continuing at club level with Inter Miami. Business/Telecom: Digicel appointed Salvador “Salva” Hierrezuelo as group chief business officer, bringing Telefónica Chile B2B leadership experience into the role.

Falklands-Chile Trade Link: Punta Arenas is hosting a late-September “Business Showroom” to connect companies from the Falkland Islands with businesses in Magallanes, covering sectors like construction, produce, and vehicles, with a 50% grant (up to £1,500) available for eligible delegations. Chile Justice: Chilean prosecutors say the 2024 kidnapping and murder of Venezuelan dissident Ronald Ojeda points toward Venezuela’s political leadership, with allegations that Interior Minister Diosdado Cabello negotiated and helped fund the operation. Sports (Chile): Crystal Palace is set to sign Chilean winger Darío Osorio on loan from Midtjylland, with an obligation to buy for over €26M. Business/Industry: DHL Global Forwarding acquired Uruguay-based Aero Cargas, expanding its direct presence in the region. Health/Science (Chile): A Chile-based study suggests cooking plant-based foods with extra virgin olive oil (especially baked or air-fried) can boost healthier fats and antioxidants.

Sports (Argentina): Lionel Messi officially retired from international football on Monday, ending a 21-year run with Argentina. He leaves with 207 caps and 125 goals, including World Cup glory in 2022 and Copa América titles in 2021 and 2024. Tributes & context: FIFA president Gianni Infantino and teammates—including Angel Di María—praised Messi’s impact, while former India cricketers Shikhar Dhawan and Yuvraj Singh also posted tributes. Chile (human rights): Human Rights Watch urged Chile’s Congress to reject constitutional changes proposed by President José Antonio Kast that would expand the president’s power to declare “public security” states of emergency and restrict rights. Chile (mining & economy): Chile copper output reportedly dropped in July, while broader market coverage highlighted copper’s shifting role in mining earnings and ongoing commodity volatility. Chile (travel): A Santiago three-day travel guide points visitors to Lastarria, La Moneda and local food stops.