Chile Collahuasi Workers Voting On Company Wage Proposal
December 06 2010 - 5:51PM
Dow Jones News
Unionized workers at Chilean copper mine Dona Ines de Collahuasi
late Monday were voting on the company's wage proposal, in the
hopes of ending the strike now in its 32nd day.
Government officials are overseeing the vote, following local
labor laws, the union's website reported.
Union leaders weren't immediately available for comment.
Despite the length of the strike, Collahuasi has been meeting
its copper contracts, sending out several shipments to clients in
Europe and Asia.
Collahuasi is controlled by diversified mining companies Xstrata
PLC (XTA.LN) and Anglo American PLC (AAUKY, AAL.LN), each holding 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. The South American nation
produces a third of the world's copper.
-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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