Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

UPDATE 2-Escondida copper miners and BHP meet as strike drags on

Published 21/02/2017, 08:02 am
UPDATE 2-Escondida copper miners and BHP meet as strike drags on
BHP
-
RIO
-
BHPB
-
ANTO
-
RIO
-
HG
-
8058
-

(Recasts first sentence to reflect that meeting has started, adds BHP comments)

SANTIAGO, Feb 20 (Reuters) - The union representing striking workers at Chilean copper mine Escondida and mine owner BHP Billiton Plc BLT.L BHP.AX sat down to talk on Monday afternoon after the government called a meeting in hopes of ending the 12-day-old strike.

The stoppage at the world's biggest copper mine helped boost copper prices on expectations of tighter supply, although news of the pending meeting had cooled the rally. company had stipulated over the weekend that it would attend only if strikers did not interfere with nonunionized service employees on their shift change. said on Monday after the shift change it would go ahead with the meeting, but that access to the mine for the contractors had been "partial."

"Some 112 workers were stopped for more than an hour before the blockade was lifted ... and 21 contractors had to return to the city," BHP said in a statement.

Escondida, which produced about 5 percent of the world's copper last year, is located about 170 kilometers from the regional city of Antofagasta (LON:ANTO).

The union said there were no blockades and the buses with the contractors were allowed through, but that workers had checked that no strike-breakers were entering the mine.

The meeting is aimed at getting the two sides to commit to a schedule of fresh wage contract talks, after initial negotiations failed.

However, significant differences remain, including the company's wish to give new workers lower benefits. Other issues include shift pattern changes, a one-off bonus paid every four years, and other benefits. is majority-controlled by BHP with minority interests held by Rio Tinto RIO.AX RIO.L and Japanese companies including Mitsubishi Corp 8058.T .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.