Chile Collahuasi Mine Talks "Advancing" As Strike Enters Day 27

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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