A breakthrough would allow a resumption of regular operations at a mine that churned out 137,100 tons final yr, Chilean authorities knowledge present. The strike by members representing 29% of staff on the mine has restricted manufacturing at a time of tightness within the world provide of copper focus — the uncooked materials used to feed smelters — — despite the fact that the marketplace for refined metallic is effectively provided for now.
Whereas copper costs have pulled again from document highs in Could, they continue to be at elevated ranges, emboldening staff in a busy schedule of collective bargaining in Chile. BHP Group needed to conform to a signing bonus of greater than $30,000 per employee to finish a strike at its large Escondida mine. One other Caserones union struck a wage deal in April.
(By James Attwood)