Chile Collahuasi Strike In Day 18; Copper Shipment Leaving Port

As the strike at Chilean copper mine Dona Ines de Collahuasi entered its 18th day on Monday, a shipment of 44,000 metric tons were ready to leave port for Japan, a company spokeswoman said.

Some 120 workers have broken away from the strike and returned to the mine, accepting the sweetened offer the mining company presented last week.

The remaining 1,430 strikers have until late Tuesday night to accept the latest wage and benefits offer, which includes a signing bonus of around $30,000 per worker, before it expires, Collahuasi spokeswoman Bernardita Fernandez said.

She added that production remains normal at the mine due to the company's contingency plan.

The union, meanwhile, says production is only at 20% of capacity and vows to continue the strike.

Diversified mining companies Xstrata PLC (XTA.LN) and Anglo American PLC (AAUKY, AAL.LN) each hold a 44% stake in Collahuasi. A consortium led by Mitsui & Co. (MITSY, 8031.TO) holds the remaining 12%.

Collahuasi, one of the world's largest copper mines, is located 185 kilometers southeast of the port of Iquique, high in the Andes mountains at 4,400 meters above sea level. It 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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