Punta Arenas is the capital city of Chile's southernmost region, Magallanes and Antarctica Chilena. Although officially renamed as Magallanes in 1927, the name was changed back to Punta Arenas in 1938. The city is the largest south of the 46th parallel south and the most populous southernmost city in Chile and the Americas. Due to its location, it is also the coldest coastal city with more than 100,000 inhabitants in Latin America. Punta Arenas is one of the world's most southerly ports and serves as an Antarctic gateway city.
Since 1977, Punta Arenas has been one of only two free ports in Chile, the other being Iquique in the country's far north. Located on the Brunswick Peninsula north of the Strait of Magellan, Punta Arenas was originally established by the Chilean government in 1848 as a small penal colony to assert sovereignty over the Strait.
Wikipedia https://en.wikipedia.org/wiki/Punta_Arenas
Coordinates -53°9'45.248" N -70°54'28.159" E