Posted in | News | Copper

Escondida Strike Driving Copper Prices Up

With the strike at BHP Billiton’s giant Escondida copper mine in the Atacama Desert, Chile continuing with no signs of abating the prices for copper continued to rise in London. Worldwide speculation over supply shortages are fueling prices right now rather than actual demand.

The strike at the Escondida mine went into the fifth day today as labor authorities began to prepare to mediate the talks between the company management and labor unions. Roberto Arriagada, a union director claims that the strike has cost the company about 12,000 tonnes in lost production so far. He added that Escondida is totally paralyzed.

Juan Luis Ossa a member of the Codelco board said that Chile was a mining superpower and so it was highly worrisome that they hast been hit by labour disputes, bad weather and lower output at some of its older mines.

Union leader Marcelo Tapia added to the company woes as he announced that 2,300 workers at the private mine will be joined Wednesday by 7,000 contractors. He was also hopeful that the union workers at the state owned mining company would also join them on Thursday.

The primary issue for the strike is the money paid to the mine workers. The company is prepared to pay monthly production bonuses that add up to $6,000 per worker by year's end. The union wants nearly twice that much.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    BHP Billiton Plc. (2019, March 19). Escondida Strike Driving Copper Prices Up. AZoMining. Retrieved on April 14, 2024 from https://www.azomining.com/News.aspx?newsID=4591.

  • MLA

    BHP Billiton Plc. "Escondida Strike Driving Copper Prices Up". AZoMining. 14 April 2024. <https://www.azomining.com/News.aspx?newsID=4591>.

  • Chicago

    BHP Billiton Plc. "Escondida Strike Driving Copper Prices Up". AZoMining. https://www.azomining.com/News.aspx?newsID=4591. (accessed April 14, 2024).

  • Harvard

    BHP Billiton Plc. 2019. Escondida Strike Driving Copper Prices Up. AZoMining, viewed 14 April 2024, https://www.azomining.com/News.aspx?newsID=4591.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.