IBOV 168,498.45 ▲ 1.39% IPC MEX 71,393.57 ▲ 0.43% MERVAL 2,848,945 — — USD/BRL5.50▼ 0.17% USD/MXN18.60▼ 0.05% USD/CLP 975.74 — 0.00% USD/COP3,240▲ 0.03% USD/PEN3.44▼ 0.15% USD/ARS 1,545 — 0.00% USD/UYU40.31▲ 3.48% USD/PYG6,358▲ 8.23% USD/BOB11.81▲ 0.40% USD/DOP60.56▲ 0.43% USD/CRC448.27▲ 1.89% USD/GTQ7.64▲ 3.24% USD/HNL26.88▲ 3.25% USD/NIO 36.62 — 0.00% USD/VES893.88▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.99▲ 2.90% USD/TTD6.72▲ 2.39% EUR/BRL6.13▲ 0.07% BRENT 98.32 ▲ 0.03% WTI 90.83 ▲ 0.34% IRON ORE 161.91 — — COPPER 6.24 ▼ 0.18% GOLD 4,075 ▼ 0.94% SILVER 51.94 ▼ 0.56% SOY 1,194 ▲ 1.08% CORN 441.50 ▲ 0.34% WHEAT 591.25 ▼ 1.34% COFFEE 280.15 ▲ 1.08% SUGAR 18.25 ▼ 1.67% ORANGE JUICE 130.55 ▲ 1.63% COTTON 78.54 ▼ 0.22% COCOA 5,119 ▼ 1.20% BEEF 214.05 ▼ 0.16% CATTLE 318.38 ▼ 2.05% LITHIUM 60.91 ▲ 1.21% PETR4 45.36 ▼ 1.28% VALE3 64.04 ▲ 2.19% ITUB4 40.53 ▲ 1.40% BBDC4 14.20 ▲ 3.12% ABEV3 15.48 — 0.00% BBAS3 17.13 ▲ 3.88% B3SA3 14.39 ▲ 0.21% WEGE3 48.19 ▼ 0.23% PRIO3 60.48 ▼ 1.72% SUZB3 53.40 ▲ 2.12% RENT3 30.29 ▲ 4.20% AZZA3 14.76 ▲ 4.98% CSAN3 2.77 ▲ 10.80% RAIZ4 28.00 ▲ 2.56% PCAR3 2.40 ▲ 0.42% GMAT3 3.80 ▲ 2.43% PSSA3 44.35 ▲ 1.46% CVCB3 0.84 ▲ 2.44% POSI3 3.09 ▼ 0.64% SLCE3 16.61 ▲ 1.59% NATU3 5.17 ▼ 3.36% BRKM5 3.20 ▲ 5.61% RANI3 8.53 ▲ 0.83% CSNA3 4.41 ▲ 8.89% IBOV 168,498.45 ▲ 1.39% IPC MEX 71,393.57 ▲ 0.43% MERVAL 2,848,945 — — USD/BRL 5.50 ▼ 0.17% USD/MXN 18.60 ▼ 0.05% USD/CLP 975.74 — 0.00% USD/COP 3,240 ▲ 0.03% USD/PEN 3.44 ▼ 0.15% USD/ARS 1,545 — 0.00% USD/UYU 40.31 ▲ 3.48% USD/PYG 6,358 ▲ 8.23% USD/BOB 11.81 ▲ 0.40% USD/DOP 60.56 ▲ 0.43% USD/CRC 448.27 ▲ 1.89% USD/GTQ 7.64 ▲ 3.24% USD/HNL 26.88 ▲ 3.25% USD/NIO 36.62 — 0.00% USD/VES 893.88 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.99 ▲ 2.90% USD/TTD 6.72 ▲ 2.39% EUR/BRL 6.13 ▲ 0.07% BRENT 98.32 ▲ 0.03% WTI 90.83 ▲ 0.34% IRON ORE 161.91 — — COPPER 6.24 ▼ 0.18% GOLD 4,075 ▼ 0.94% SILVER 51.94 ▼ 0.56% SOY 1,194 ▲ 1.08% CORN 441.50 ▲ 0.34% WHEAT 591.25 ▼ 1.34% COFFEE 280.15 ▲ 1.08% SUGAR 18.25 ▼ 1.67% ORANGE JUICE 130.55 ▲ 1.63% COTTON 78.54 ▼ 0.22% COCOA 5,119 ▼ 1.20% BEEF 214.05 ▼ 0.16% CATTLE 318.38 ▼ 2.05% LITHIUM 60.91 ▲ 1.21% PETR4 45.36 ▼ 1.28% VALE3 64.04 ▲ 2.19% ITUB4 40.53 ▲ 1.40% BBDC4 14.20 ▲ 3.12% ABEV3 15.48 — 0.00% BBAS3 17.13 ▲ 3.88% B3SA3 14.39 ▲ 0.21% WEGE3 48.19 ▼ 0.23% PRIO3 60.48 ▼ 1.72% SUZB3 53.40 ▲ 2.12% RENT3 30.29 ▲ 4.20% AZZA3 14.76 ▲ 4.98% CSAN3 2.77 ▲ 10.80% RAIZ4 28.00 ▲ 2.56% PCAR3 2.40 ▲ 0.42% GMAT3 3.80 ▲ 2.43% PSSA3 44.35 ▲ 1.46% CVCB3 0.84 ▲ 2.44% POSI3 3.09 ▼ 0.64% SLCE3 16.61 ▲ 1.59% NATU3 5.17 ▼ 3.36% BRKM5 3.20 ▲ 5.61% RANI3 8.53 ▲ 0.83% CSNA3 4.41 ▲ 8.89%
since 2009
Sunday, November 8, 2026

Chile Latin America

Chile and Australia Launch Strategic Partnership Without a Signature at UN Meeting

By · · 6 min read

CHILE · BUSINESS

Key Facts

  • —The country. Chile has 19.9 million people and is the world’s largest copper producer. José Antonio Kast has been president since 11 March 2026, succeeding Gabriel Boric.
  • —The money. The Chilean peso trades at about 959 to the US dollar. Copper and lithium dominate exports, which is why mining partners matter more here than trade volume does.
  • —What already exists. The two countries already have a free trade agreement and both belong to the CPTPP, a Trans-Pacific trade pact. Australia’s BHP operates Escondida in northern Chile, the world’s biggest copper mine by output.
  • —What happened. Foreign ministers Francisco Pérez Mackenna and Penny Wong met at the United Nations in New York on 22 September 2026. They agreed to begin work towards a Strategic Partnership.
  • —What is missing. Nothing was signed — no treaty, no memorandum, no joint declaration. The mining element has no project list, no budget and no timetable.
  • —What it means for you. Taxes, visas and investment rules do not change today. The item to watch is Humboldt, a Google undersea cable running about 14,800 kilometres from Santo Domingo to Sydney.
  • —The catch. Chile’s government puts the cable investment above US$300 million, and industry estimates near US$400 million. Service has slipped from 2026 to 2027 and now 2028, and Australia funds none of it.

Two foreign ministers agreed in New York to begin the work. Nothing was signed, and the two headline items sit at very different stages.

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La Moneda Palace, Chile, with Chilean flag
The port of Valparaíso; the Humboldt cable is due to land nearby at Santo Domingo
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Chile and Australia agreed on Tuesday 22 September 2026 to begin building a Chile-Australia strategic partnership. Their foreign ministers met at the United Nations General Assembly in New York, and signed no document.

What the Two Ministers Actually Agreed

Chile’s foreign minister, Francisco Pérez Mackenna, met Australia’s foreign minister, Penny Wong, on Tuesday 22 September 2026. Chile’s foreign ministry said they agreed to begin the path towards a Strategic Partnership.

The Chile-Australia strategic partnership is a political upgrade, not a legal one. No treaty was signed, no memorandum of understanding was published, and no joint declaration was issued.

The contrast was visible in Chile’s own week in New York. A day earlier the same minister signed terms of reference with Morocco to open free trade talks.

Chile and Australia already have a free trade agreement and share membership of the Trans-Pacific trade pact known as the CPTPP. In November 2025 the two governments issued a joint statement marking 80 years of relations.

The Mining Part, in Concrete Terms

Pérez Mackenna described the mining element as cooperation, not a contract. He pointed to better industry practice, more investment, and joint work as producers of critical minerals.

The minerals involved are copper and lithium on the Chilean side. Australia’s strengths are iron ore and lithium, so the overlap sits mainly in lithium and copper.

The mechanism is investment, not regulation or research funding. Australia’s BHP operates Escondida in northern Chile, with Rio Tinto and Japan’s JECO Corporation as the other shareholders.

Rio Tinto, an Anglo-Australian company, has separate lithium agreements with Chile’s state firms Codelco and Enami. No new project, fund or research programme was announced this week.

Trade between the two countries is still modest. Chilean exports to Australia reached US$235 million from January to August 2026, led by gold, central bank figures show.

The Humboldt Cable and the Chile-Australia Strategic Partnership

The Humboldt cable is the most concrete item the two ministers discussed. It is a Google project built with Desarrollo País, Chile’s state infrastructure company.

One leg will run about 14,800 kilometres from Santo Domingo, near Valparaíso, to Sydney. A second leg will link Santo Domingo with Panama City over about 6,500 kilometres.

The whole system is more than 21,000 kilometres long and passes through French Polynesia. Chile’s government puts the investment at more than US$300 million; industry estimates are near US$400 million.

Google and Desarrollo País signed the contract for Humboldt Connect, the venture that will sell capacity, in June 2025. Google funds most of the build.

A regional coastal commission in Valparaíso approved installation and operation on 19 June 2026. Installation is expected in the last quarter of 2026, with service from 2028.

Australia’s role is as the landing country, not the financier. The cable is expected to come ashore at Maroubra Beach in Sydney.

The timetable has slipped more than once. Service was first promised for 2026, then the first half of 2027, and is now set for 2028.

Why a Pacific Data Cable Matters to Chile

Today most data between South America and Asia travels through the United States. Humboldt would be the first direct route between the two regions.

A direct route cuts the distance and the delay, known as latency. It also adds a second path if another cable is damaged.

That matters for money, not only for engineering. Cheap, fast and reliable capacity is what data centre operators look for before they commit.

Chile wants to be the region’s digital gateway, and already hosts a Google data centre and cloud region. It also plans land links so Argentina, Paraguay and Brazil can use the route.

What It Means for Expats and Investors

Nothing in the Chile-Australia strategic partnership changes taxes, visas or investment rules today. It is a signal of direction, not a new set of rights or obligations.

For mining investors, the practical effect is easier official contact between Santiago and Canberra. That can help with introductions and meetings, though it guarantees no project.

For technology firms and remote workers in Chile, the cable is the item to watch. Better links to Asia could support data centres, cloud services and faster connections.

Chile is also bidding for Valparaíso to host the secretariat of the new High Seas Treaty. The ministers raised that bid in the same meeting.

What Is Not Yet Known

There is no date for signing a partnership document, and no venue has been named. The full scope of the partnership has not been published.

The mining element has no project list, no budget and no timetable. It is not known whether it will cover research, regulation or only investment promotion.

Australia has not announced any funding for the Humboldt cable. The next real test is simple: whether cable laying starts before the end of 2026.

Frequently Asked Questions

Did Chile and Australia sign anything?

No. The two foreign ministers agreed to begin work towards a Strategic Partnership, without a treaty, a memorandum or a joint declaration.

What is the Humboldt cable?

It is an undersea cable from Google and Desarrollo País linking Chile to Sydney and Panama City. Installation is due to start in late 2026.

Does this change anything for investors now?

Not yet. No project, budget or rule change was announced, so the effect today is diplomatic rather than commercial.

Connected Coverage

Chile Joins Escudo De Las Américas After Dropping Observer Role

Sources: Chile’s Ministry of Foreign Affairs statement, 22 September 2026; La Tercera; BioBioChile; Chilean government and Valparaíso regional statements on the Humboldt cable; BNamericas; Google Cloud; Australian Minister for Foreign Affairs.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error

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