Chile's Collahuasi Strike In Day 29; Talks At Turning Point
December 03 2010 - 8:00AM
Dow Jones News
As the strike at Chilean copper mine Dona Ines de Collahuasi
enters its 29th day Friday, the negotiations that restarted earlier
this week have reached a turning point, according to a person close
to the talks.
The copper mine, one of the world's largest, has continued to
operate during the strike and has sent out several shipments of
copper to clients in Europe and Asia.
Management and the sole union at the mine have negotiated most
of the points on their agenda, such as benefits and wages, but are
now discussing the key issue of bonuses, said the person who asked
to remain unnamed. The union represents 1,551 workers.
More than 220 unionized workers broke away from the strike last
week, which has helped the mine bring its production back to
capacity. In addition, the company hired some 100 replacement
workers to maintain operations.
Collahuasi is controlled 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%.
-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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