Talks to end strike at BHP’s Escondida mine in Chile postponed
Talks to end a strike that’s shut production at BHP’s Escondida copper mine in Chile have been postponed indefinitely.
Negotiations aimed at ending a strike that has halted production at BHP Billiton’s giant Escondida copper mine in Chile have been postponed indefinitely, the government and a union said.
After a week on strike, union leaders had said they were ready to meet overnight (AEDT) with managers of the northern Escondida mine and government mediators.
But the Escondida workers’ union said in a statement that “scheduling problems” had prompted the company to ask for the talks to be postponed.
“There is no date set. These negotiations take time,” junior labour minister Francisco Diaz said on T13 radio.
A source in the union said its leaders planned to meet with government officials tonight (AEDT) in the capital Santiago.
Some 2500 workers are on strike at Escondida demanding a pay raise. They have warned the action could last up to two months.
The mine supplies five per cent of global copper output — some 927,000 tonnes a year.
Like other mining companies, BHP (BHP) has had to cut costs as copper prices slid in recent years.
But prices have rallied in recent weeks on the back of US President Donald Trump’s infrastructure spending plans.
Copper is a key component in wiring, and demand for heavy machinery, electrical grids and telecommunication networks drives prices up.
Renewed appetite in China, the world’s biggest copper consumer, is also shaping the market.
AFP