Chile Collahuasi CEO: 220 Strikers Return To Work; Output Normal
November 25 2010 - 7:44AM
Dow Jones News
As the strike at Chilean copper mine Dona Ines de Collahuasi
entered its 21st day, 220 workers have broken away from the
industrial action, according to the company's chief executive Jon
Evans.
Despite the strike, output at the mine, one of the largest in
the world, remains normal due the company's contingency plan, he
said.
"We've met with all our committments; that's part of the
continuity plan," he told reporters on the sidelines of a mining
industry dinner late Wednesday.
In addition, some 100 workers were hired earlier this week to
maintain production at the mine, Collahuasi General Counsel Juan
Carlos Palma said.
"Our aim isn't to end the strike, rather, we are aiming to
maintain output," Palma told reporters.
Since the strike started on Nov. 5, Collahuasi has sent out two
shipments of copper, one bound for Japan and the other for Europe,
and will likely send another shipment out later this month.
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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