Chile Collahuasi Strike Output Loss Still Undetermined-Anglo Executive
December 14 2010 - 9:45AM
Dow Jones News
Chilean copper mine Dona Ines de Collahuasi still hasn't
determined how much output was lost on the 33-day strike at the
mine, an Anglo American PLC (AAUKY, AAL.LN) executive said
Tuesday.
Anglo and diversified mining company Xstrata PLC (XTA.LN) each
hold a 44% in Collahuasi, one of the world's largest copper
mines.
"The impact is still under evaluation," said Anglo American
Chile chief executive Miguel Angel Duran.
He added that in all likelihood, the biggest impact had been not
on output but on ore movement.
During the 33-day strike that ended earlier this month,
Collahuasi sent out several copper shipments to international
clients.
Unionized workers returned to their posts last week, and the
mine sent out a small copper shipment this week, said a person at
the company who asked to remain anonymous.
Another three shipments, totaling about 45,000 metric tons of
copper, are due to leave sometime this week. A consortium led by
Mitsui & Co. (MITSY, 8031.TO) holds the remaining 12% of the
mine.
Collahuasi 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. It produces
about 500,000 tons of coper a year.
-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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