Chuquicamata workers to strike; supply issues pressure copper TCs down further

Workers in unions 1, 2 and 3 of Codelco’s Chuquicamata copper mine have rejected the company’s most recent contract offer and plan to go on strike from Friday June 14, Codelco said on Wednesday June 12.

The strike is to begin during the first work shift on Friday after workers expressed their dissatisfaction with a 1.2% salary rise and a one-time benefits package - worth around $20,000 - without an offer for medical expenses and pensions. Codelco, the world’s largest copper producer, has described the a “serious, responsible and realistic” offer as the best that it can make to avoid possible production disruption, given that supply of copper concentrates is tight this year. This is not the first trouble that the world’s largest copper producer has met this year either. Earlier in June, the company’s largest copper mine El Teniente had to partially halt following a fatal accident on Sunday June 2. The latest performance report showed that the company’s copper output reduced by 14.4% year on year to 500,700 tonnes in January-April 2019 from...


Anna Xu

Hassan Butt

June 13, 2019

13:30 GMT

Shanghai, London