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In page Patagonia:

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Following the last instructions of Bernardo O'Higgins, the Chilean president Manuel Bulnes sent an expedition to the Strait of Magellan and founded Fuerte Bulnes in 1843. Five years later, the Chilean government moved the main settlement to the current location of Punta Arenas, the oldest permanent settlement in Southern Patagonia. The creation of Punta Arenas was instrumental in making Chile's claim of the Strait of Magellan permanent. In the 1860s, sheep from the Falkland Islands were introduced to the lands around the Straits of Magellan, and throughout the 19th century, sheepfarming grew to be the most important economic sector in southern Patagonia.[citation needed]