Chile Collahuasi Mine Talks "Advancing" As Strike Enters Day 27
December 01 2010 - 6:47AM
Dow Jones News
Negotiations between the union and management at Chilean copper
mine Dona Ines de Collahuasi are "advancing", while the strike at
the mine enters its 27th day Wednesday, a company spokeswoman
said.
Despite the strike, the mine has met its commitment and sent out
several copper shipments to clients in Asia and Europe.
Union leaders from the sole union at the mine and company
executives met Tuesday morning and then held a second meeting that
ran late into the evening, Collahuasi spokeswoman Bernardita
Fernandez said.
On Wednesday, negotiations should resume shortly before midday,
she added.
Collahuasi is owned by diversified mining companies Xstrata PLC
(XTA.LN) and Anglo American PLC (AAUKY, AAL.LN). Each ones hold a
44% stake in the mine. A consortium led by Mitsui & Co. (MITSY,
8031.TO) holds the remaining 12%.
It is one of the world's largest copper mines and is located 185
kilometers southeast of the port of Iquique, high in the Andes
mountains at 4,400 meters above sea level. 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 Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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