Labor Strike At Chile Collahuasi Copper Mine Enters 14th Day
November 18 2010 - 6:58AM
Dow Jones News
The strike at Chilean copper mine Dona Ines de Collahuasi
entered its 14th day Thursday as the company hopes workers will
break away starting Friday following their sweetened final
offer.
Late Wednesday, the company presented an improved final offer,
with a net signing bonus of around $29,000 and better benefits.
Chilean labor laws stipulate that a striking union member can
break away from the strike and negotiate individually on the
fifteenth day of the industrial action.
"We've seen some workers interested in accepting our final
offer," company spokeswoman Bernardita Fernandez said.
Meanwhile, output at the mine remains normal, she added.
Collahuasi has been meeting its commitments, with a shipment
leaving for Europe earlier this week.
The mine is one the biggest copper mines in the world and 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%.
It is located 185 kilometers southeast of the port of Iquique,
high in the Andes mountains at 4,400 meters above sea level and
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 Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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