AGP Executive Report

Diplomacy & UN politics: South Korea will host the Jeju Forum for Peace and Prosperity (June 24–26), and officials say all candidates for the next UN secretary-general are expected to gather and pitch their visions. AI governance shake-up: South Africa’s draft AI policy was pulled after fabricated sources were found in its references; two communications officials were placed on precautionary suspension as lawmakers demand a way forward. Chile business pulse: SQM reported a sharp jump in Q1 results, with revenues up to US$1.76bn and net income rising to US$364.7m, while Chile also cleared the way for the $4.45bn “Puerto Exterior” expansion at San Antonio after an environmental permit approval. Mining & copper: Codelco faces scrutiny after an overestimation of production figures, and separate coverage flags a broader copper supply crunch that’s reviving interest in faster-moving junior projects. Regional politics: Colombia’s radical right is gaining momentum ahead of the May 31 vote, raising questions for the region’s stance on Gaza solidarity.

Earthquake Watch: A strong 6.9-magnitude quake hit northern Chile near Calama, with no immediate reports of injuries or major damage, though some mining areas saw landslides and temporary power and water outages. Water & Tech Tension: Chile’s datacentre boom is intensifying the mega-drought debate, with the Quilicura wetland described as “a wetland without water” as more centres expand in Santiago’s north. Copper Outlook: HDFC Tru argues copper could be the next “supercycle” winner, pointing to multi-decade valuation gaps versus gold and silver alongside tightening supply from years of underinvestment—while demand rises from AI data centres, EVs, grids and defence. Health Policy: Thailand is reviving a draft law to curb children’s exposure to unhealthy food and drink marketing, as childhood obesity and long-term non-communicable disease risks climb. Regional Business: Wom reported Q1 revenue up about 5% on postpaid growth after exiting bankruptcy, reinforcing its push to stay Chile’s #2 mobile operator. Payments: Alipay+ is expanding cross-border QR payments in Chile and Argentina via PVS, aiming to reduce currency friction for travellers.

Earthquake Watch: A strong 6.9 quake hit Chile’s Antofagasta mining region, disrupting some operations and triggering landslides, but authorities reported no major damage to critical infrastructure and no injuries; Codelco paused some activities while BHP and Antofagasta said their operations were not affected. Urban Renewal: Santiago’s Mapocho River is back in business—after a 12-year cleanup and a wastewater tunnel project, residents are now jogging along a waterway that once functioned like an open sewer. Security & Politics: Backlash is growing after the Kast government said it will operate under Boric’s security plan, with critics calling it a lack of a new strategy. Chile in the Startup Race: Impacta VC opened applications for its Modo Fundraising fifth edition, aiming to help Latin American impact startups raise capital and connect with investors. Climate Accountability: Leaked BHP internal documents suggest its WA iron ore emissions cuts may fall far short of net-zero expectations, raising doubts inside the company. Regional Business Expansion: BlaBlaCar is launching in Chile as part of a wider South America rollout, betting on carpooling demand where transport gaps persist.

Chile Migration Crackdown: Chile expelled 80 Colombians and Bolivians on a new deportation flight under Kast’s migration plan, with 32 having police records—160 people have left so far across three operations. Renewables Delivery: CJR Renewables finished the 36MW Cancura wind farm in La Araucanía, adding six 6MW turbines and grid works, boosting Chile’s wind pipeline. Ocean Protection Delayed: Chile’s expansion of marine protection (another 10% of ocean) remains stalled under the new government, leaving protections in limbo. AgTech Investment: Denmark’s PerPlant raised €1M to add AI “eyes” to tractors, aiming to cut herbicide use by up to 90%—a model that could resonate with Chilean precision-farming ambitions. Global Watch: BHP faces fresh scrutiny after leaked internal memos showed it shelved key climate projects, while an El Niño build-up threatens major weather disruptions.

Migration Crackdown: Chile deported 80 Colombians and Bolivians on Kast’s third “migration control plan” flight, with 160 people expelled in total across three operations. Climate Watch: Scientists warn the Pacific is building toward a possible “Super El Niño,” with high odds of major ocean warming later in 2026. Public Health Policy: Chile’s neighbors are pushing tougher rules too—Thailand is reviving a bill to shield children from junk-food marketing, reflecting growing concern over how ads shape eating habits. Environment & Governance: A new Chile-focused scientific warning flags a regulatory setback after the government withdrew 43 environmental decrees, including climate and air-quality protections. Business/Markets: India’s GIFT City is pitching simpler overseas investing as global capital flows shift. Regional Aid: Peru sent four tons of food to Bolivia amid road blockades, adding to humanitarian airlifts from Chile and others.

Real Madrid Shock: Renewables tycoon Enrique Riquelme confirmed he’ll challenge Florentino Pérez for the club presidency, triggering a member vote expected around June 7—after Pérez called elections early following a trophy-less season. Chile & Energy Angle: Riquelme’s Cox Energy has major ties across Chile and Latin America, adding a business-politics twist to the sports story. Global Markets Watch: Trump says a US-Iran peace deal is “largely negotiated,” with Strait of Hormuz reopening expectations pushing oil prices down. Copper Signal: New coverage flags a looming 2026 copper supply gap and rising “tech-critical” demand pressures. Fast Fashion Fallout: Reports highlight textile waste “export to die” routes, including mountains of discarded clothes in Chile’s Atacama and toxic dumping elsewhere. Health & Policy: A new study links longer working hours to higher obesity rates, while Chile-related public health items keep spotlighting budget strain.

Healthcare Under Pressure: Chile’s health workers warn that Finance Ministry cuts of over $417 billion pesos are already triggering hospital directives that limit surgeries and even layoffs, turning budget policy into direct patient delays. Mining & Legal Risk: Greenpeace Chile’s Dominga complaint moves forward after a court ordered the prosecutor to investigate alleged bribery and influence-peddling tied to overturning environmental rejections—lawyers call it “the tip of an enormous iceberg.” Energy & Telecom Resilience: Spark will upgrade battery backup at 295 cell towers, aiming for 24-hour coverage during outages, co-funded with government support. Regional Watch: Bolivia protests and road blockades keep escalating, while Argentina faces renewed market pressure as global Treasury volatility threatens debt-market access. Sports/Business Crossover: Solar renewables tycoon Enrique Riquelme confirms a bid for Real Madrid president, challenging Florentino Pérez after a trophy-less run. Tragedy: A Chilean climber died after a fall down Llaima Volcano on her 42nd birthday.

Politics & Power: Renewables tycoon Enrique Riquelme confirmed he’ll challenge Florentino Pérez for the Real Madrid presidency—his solar empire includes major Chile links, keeping the “business-to-sports” pipeline in focus. Legal & Mining: Greenpeace Chile’s Dominga case took a step forward as a Santiago court admitted a complaint over alleged bribery, influence peddling, and confidentiality breaches—lawyers warn it could be “the tip of an enormous iceberg.” Energy & Telecom Resilience: Spark won a government-backed contract to upgrade battery backup at 295 cell towers, aiming for 24-hour service during outages (work starts late 2026, finish by June 2027). Science & Industry: Researchers say they’ve developed a faster, cleaner lithium extraction method for EV batteries, targeting brines with higher selectivity. Public Health Pressure: Fenats warns Kast’s budget cuts could leave hospitals short of resources by August. Human Interest: A 42-year-old Chilean mother died after a fall into Llaima Volcano during a birthday hike.

Healthcare Budget Clash: Chile’s Fenats warns Kast’s budget cuts could leave public hospitals without resources by August, calling it a “terminal crisis” for care of over 15 million people. Energy Transition: Wind and solar overtook gas globally for the first time in a full month, hitting 22% vs gas’s 20% of electricity generation—Chile is among the countries seeing growth. Women Founders Funding: Aurora Ventures (backed by inDrive and launched after an Aurora Tech Award in Santiago) will invest $180k–$250k pre-seed/seed in underserved women founders across MENA, Africa and Latin America. Business & Trade: Copec-linked Flair will distribute its HVAC optimization tech in Chile, targeting up to 40% air-conditioning savings without replacing equipment. Regional Politics: Bolivia’s protests and road blockades deepen as the U.S. backs President Rodrigo Paz while protesters demand resignation. Markets: Global stocks ended the week mostly higher, with the S&P 500 extending its winning streak to a ninth week.

Trade Diplomacy: India’s commerce minister Piyush Goyal says high-level talks with Chile and other partners (Oman, Netherlands, Maldives, Germany, Egypt) are aimed at boosting exports, investment, and food-safety coordination. Food & Agriculture: Peru’s grape exports keep climbing, with 2025/26 shipments hitting a record 86.4M boxes, while exporters juggle climate and logistics pressures. Salmon & Seafood: Chile’s Salmones Austral opens a Tokyo office to deepen Asian sales (excluding China), and Fish Tales brings Jamie Oliver into a push for sustainably sourced seafood ahead of UK retail. Energy & Storage: Brazil’s battery storage growth is still slow—expected to top 1 GW in 2026—sparking debate over how much to rely on BESS versus thermal capacity. Local Business: Herti registers a new South America unit in Santiago to expand wine-and-spirits packaging reach. Bolivia Watch: Protests in La Paz are escalating, with blockades, shortages, and international concern over whether the unrest is veering into an attempted coup.

Public mood on tax overhaul: A new Data Influye/Tú Influyes poll finds 66% of Chileans reject President José Kast’s “mega” tax reform as a way to revive the economy, with 44% strongly disagreeing as the bill moves toward Senate debate. Aquaculture rules get lighter: Subpesca is moving to update a 2021 resolution to let salmon farms cultivate macroalgae alongside fish in multitrophic aquaculture, aiming to cut red tape under Chile’s 2025 framework law on sectoral authorizations. Salmon operator pushes relocation: Cooke Chile has submitted a US$6m proposal to the SEA to relocate a grow-out center in Aysén, after earlier government agreements to move concessions were slowed by bureaucracy. Telecom resilience upgrade: Spark will upgrade battery back-up at 295 cell towers, funded jointly with Connexa and the government, to provide 24 hours of service during outages—work starting late 2026 and finishing by June 2027. Regional politics and security: Chile and partners are also watching unrest in Bolivia as a Shield of the Americas statement urges peaceful protests and respect for democratic institutions.

Maritime Expansion: SAAM Towage is set to strengthen its Americas position with five new escort tugs from Türkiye’s Sanmar Shipyards, built to Robert Allan designs and joining fleets across Mexico, Guatemala, Colombia and Chile. Energy Shift: Ember reports renewables are overtaking gas in global power generation for the first time, with wind and solar up 13% year-on-year in April. Chile in the Metals Spotlight: Copper rebounded as markets reacted to Chile cutting its production outlook and hopes that the Iran war is nearing an end. Renewables Contracting: Transap won a 12-year CMPC forestry logistics deal moving timber in Biobío and La Araucanía from August 1, aiming to cut road congestion and emissions via rail. Tech & Connectivity: Truecaller launched a travel eSIM service covering Chile among 29 countries, while DAZN is exploring a tie-up with DirecTV Latin America—potentially reshaping sports streaming access across the region.

Budget Clash in Health: Chile’s Senate Health Committee blocked proposed cuts to the Ministry of Health and summoned Finance Minister Jorge Quiroz, warning that “not a single peso” is surplus and that hospitals could face knock-on damage to staffing, supplies, and waiting lists. Seniors Under Pressure: Quiroz’s plan also targets senior programs worth about $427 billion, including potential reductions or shutdowns across pensions, nutrition, housing support, and participation schemes. Mining & Permits: Deputy Nathalie Castillo renewed scrutiny of the Dominga project after a lawsuit alleging payments tied to a “Belarusian scheme,” while separate coverage says Chile backtracked on an Anglo-Glencore environmental clearance and halted a desalination plant tied to indigenous concerns. Copper Moves: Copper rebounded in London as Chile cut its production outlook and Iran-war hopes eased risk, lifting prices even as China demand worries lingered. Bolivia Tension: Bolivia rejected a state of emergency amid protests that have tightened control around La Paz and raised fears of economic fallout.

World Cup Buzz: Brazil coach Carlo Ancelotti unveiled a 26-man squad for the June 11 tournament opener in Mexico, with Neymar back as a key figure after rejoining Santos in 2025; notable omission: Chelsea’s Joao Pedro. Education & AI: A UNESCO report flags that only 1 in 5 universities worldwide has a formal AI policy, arguing the humanities must help manage how digital platforms shape attention and identity. Chile Politics: President José Antonio Kast carried out his first cabinet reshuffle, removing Security Minister Trinidad Steinert and Government Spokesperson Mara Sedini, with Martín Arrau taking Security and Claudio Alvarado adding the spokesperson role. Copper Watch: Copper edged up in London as hopes grow for an Iran-war end and after Chile cut its production outlook for 2026. Aquaculture Rule Change (Chile): Kast’s reconstruction bill includes tighter rules for salmon concession relocations, requiring SEIA steps and closure plans even for small moves. Mining Funding (Chile-linked): Flagship Minerals raised A$2.75m to push feasibility and drilling for its Isidora Gold Project in Chile. Tech in Chile (Audio): HK Audio debuted its COSMO line array in Chile, with immediate local rental uptake.

Chile Cabinet Shake-Up: President José Antonio Kast carried out his first cabinet reshuffle, removing Security Minister Trinidad Steinert and government spokesperson Mara Sedini, with Interior Minister Claudio Alvarado taking on spokesperson duties while Martín Arrau moves to Security—an unusually fast adjustment amid slipping approval. Mining & Environment: Chile’s appeals court confirmed a heavy sanction against Minera Pacífico del Sur over heavy-metal pollution tied to the El Toqui operation in Alto Mañihuales, ordering more than 12 billion pesos for environmental closure guarantees. Foreign Policy & Trade: Chile’s foreign minister pushed deeper ties with India, highlighting services and digital cooperation alongside critical minerals and CEPA talks. Gold Project Funding: ASX-listed Flagship Minerals raised A$2.75m via a placement backed by strategic investors including Xinhai to advance feasibility and drilling for Chile’s Isidora Gold Project. Regional Climate Pressure: A WMO report warns Latin America and the Caribbean are already seeing harsher extremes—heat, storms, droughts and floods—despite improving early-warning systems.

Bolivia Under Siege: Protests and road blockades are choking La Paz and draining hospital oxygen, with clashes between supporters of ousted leader Evo Morales and police escalating as unions, peasants and miners demand President Rodrigo Paz’s resignation. Latin America Politics Watch: The unrest lands as the region’s right-wing shift gathers steam—Colombia’s May 31 election could decide whether the pro-Israel trend keeps spreading or stalls. Chile Business Signals: Chilean salmon producer Salmones Camanchaca reported a Q1 net loss of $3.8m, blaming lower prices, higher processing costs and extraordinary mortalities. Chile Tech & Connectivity: Mundo topped Chile’s fixed internet speed ranking (nPerf), averaging 564.2 Mbps. Energy & Industry: South Africa’s green hydrogen-ammonia project advanced with engineering work underway, while ENGIE Chile energized its wind-plus-battery system, adding flexibility to the grid. Global Health: A hantavirus outbreak linked to a cruise ship continues to trigger quarantines and disinfection in Rotterdam, with WHO saying broader risk remains low.