- AustraliaNorth AmericaWorld
Hot Chili CEO Sees Chile as Next "Saudi Arabia for Electrification"
“Chile sits in this very unique position that it is almost the Saudi Arabia of what is about to occur in the electrification of the world,” said Hot Chili Managing Director and CEO Christian Easterday.
With current political events unfolding in Chile that could impact the country’s mining sector, Hot Chili (ASX:HCH,TSXV:HCH,OTCQX:HHLKF) CEO and Managing Director Christian Easterday is optimistic that the country’s government will remain committed to maintaining a stable mining industry.
“The world’s eyes are on Chile,” he said. “Chile sits in this very unique position that it is almost the Saudi Arabia of what is about to occur in the electrification of the world.” The country is the world’s top copper producer and the second largest producer of lithium.
Hot Chili is advancing its Costa Fuego copper project in Chile with an indicated resource of 2.8 million tonnes of copper and an inferred resource of 0.6 million tonnes of copper.
“As history will serve, the reforms that occurred through the Pinochet era, and a lot of the modern reforms of the Chilean economy that is often referred to as the period that created the Latin American miracle and the strength of the Chilean investment framework, has brought the world’s largest resource companies to unlock all of the revenue for the state through copper in particular,” said Easterday.
He is doubtful the country will move back to nationalising its copper sector given the metal's strategic role in global electrification.
Chile recently held a vote for a new assembly to draft a new constitution for the country, with members of right-wing parties winning a majority in the soon-to-be established 50 seat Constitutional Council, effectively placing the incumbent President Gabriel Boric’s leftist party in the minority. The country is also a step closer to enacting new mining royalty legislation that aims to raise taxes on Chile’s large copper producers.
Watch the full interview with Hot Chili Managing Director and CEO Christian Easterday above.
Disclaimer: This interview is sponsored by Hot Chili (ASX:HCH,TSXV:HCH,OTCQX:HHLKF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Hot Chili in order to help investors learn more about the company. Hot Chili is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Hot Chiliand seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.