logo
Codelco Is Seeking Restart at Chile Copper Mine After Collapse

Codelco Is Seeking Restart at Chile Copper Mine After Collapse

Bloomberg2 days ago
Codelco filed a request to restart parts of its biggest copper mine in Chile after a deadly accident halted work last week, according to people briefed on the matter.
The state-owned miner received requests for additional information from mines regulator Sernageomin and is in the process of responding, the people said, asking not to be identified discussing private talks.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

TeraWulf Q2 2025 revenue rises to $47.6 million as HPC takes shape
TeraWulf Q2 2025 revenue rises to $47.6 million as HPC takes shape

Yahoo

time17 minutes ago

  • Yahoo

TeraWulf Q2 2025 revenue rises to $47.6 million as HPC takes shape

TeraWulf (WULF) reported Q2 revenue of $47.6 million, up 34% from $35.6 million a year earlier, driven by expanded mining capacity and higher bitcoin prices. Cost of revenue, excluding depreciation, rose 59% to $22.1 million, pushing costs to 46.4% of revenue compared to 39.1% in Q2 2024. Adjusted EBITDA fell to $14.5 million from $19.5 million. The company self-mined 485 bitcoin, down from 699 last year due to the April 2024 halving and the sale of its Nautilus facility, while operational hashrate increased to 12.2 EH/s from 8.0 EH/s. Power cost per bitcoin doubled to $45,555, reflecting the halving, higher network difficulty, and energy price volatility. TeraWulf expects to begin recognizing revenue from HPC hosting in Q3, starting with its 'WULF Den' deployment, followed by 'CB-1' in August and 'CB-2' in Q4. It also received interconnection approval for 500 MW at its Lake Mariner site, with additional capacity of up to 750 MW pending. At quarter-end, the company held $90 million in cash and bitcoin, against about $500 million in 2.75% convertible debt due 2030. At time of publication, WULF is up 3.6% during pre-market hours.

Chile's Annual Inflation Unexpectedly Speeds Up After Rate Cut
Chile's Annual Inflation Unexpectedly Speeds Up After Rate Cut

Bloomberg

time20 minutes ago

  • Bloomberg

Chile's Annual Inflation Unexpectedly Speeds Up After Rate Cut

Chile's annual inflation unexpectedly accelerated for the first time since March after the central bank signaled it will gradually lower its borrowing costs over coming quarters. Annual inflation sped up to 4.3% in July, above all estimates in a Bloomberg survey that had a 4% median forecast. On the month, prices rose 0.9%, also above all projections, the national statistics institute reported on Friday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store