Workers Vote On Chile Collahuasi Wage Deal With Calls To Strike
October 27 2010 - 9:47AM
Dow Jones News
Unionized workers at Chilean copper mine Dona Ines de
Collahuasi, one of the globe's largest red metal mines, are voting
on the company's final wage offer as union leaders push for a
strike, a labor leader 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. Also, workers at Collahuasi went on strike for
several days in 2007 as the last wage negotiations broke down.
"Voting on the wage offer is expected to be complete late
tonight [Wednesday]. Although it already looks like the majority of
workers are going to vote for a strike... The company hasn't met
our demands. Maybe they prefer to negotiate during a strike," union
spokesman Juan Antonio Barraza told Dow Jones Newswires.
The company's offer to the 1,551 unionized workers includes
bonuses worth 8.9 million Chilean pesos ($18,305).
"In contract negotiations with unionized workers, voting to go
on strike is a legitimate tool. However, both sides have the right
to ask for government mediation if that happens, to try to come to
an agreement before an actual strike occurs," said company
spokeswoman Bernardita Fernandez.
If either side asks for government mediation, talks are extended
for another five days. Then, if both sides still haven't reached an
agreement, government mediation and talks can be prolonged an
additional five days if both company representatives and union
leaders request it.
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
Mitsui (NASDAQ:MITSY)
Historical Stock Chart
From Jun 2023 to Jun 2024