Chile Collahuasi To Start Contract Talks With Unionized Workers

Chilean copper mine Dona Ines de Collahuasi will start contract negotiations next week with some 1,600 unionized workers, the company said Wednesday.

Collahuasi, one of the largest mines in the world, was forced to shut down earlier this year for several days after protesting contract workers blockaded the access road to the mining compound, resulting in a loss of 11,300 tons of copper contained in concentrates.

"We're confident that the collective contract negotiation will be done in a collaborative manner so that both sides are happy with the outcome," company spokeswoman Bernardita Fernandez said in a statement.

The mine is owned by diversified mining companies Xstrata PLC (XTA.LN) and Anglo American PLC (AAUKY, AAL.LN), each with a 44% stake. A consortium led by Mitsui & Co. (MITSY, 8031.TO) holds the remaining 12%.

Collahuasi produces about 500,000 metric tons of copper a year, or about 10% of Chile's annual output. Chile is the world's leading copper producer, accounting for about 35% of global output.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

Mitsui (NASDAQ:MITSY)
Historical Stock Chart
From May 2024 to Jun 2024