Potential mid-July work stoppages at two copper mines in Chile could pinch the supply of the red metal and raise its price, provided the labor-management differences are not settled quickly.
According to an online report from Reuters, labor negotiations at two large mines in Chile owned by United Kingdom-based Antofagasta PLC are reaching a point where workers or supervisors could soon strike.
Reuters says workers at Antofagasta’s Zaldivar mine and supervisors at its Centinela mine site will be voting by mid-July on whether to strike.
The combined annual production at the two mines is up to 285,000 metric tons of copper, according to the Antofagasta website, which lists Centinela as the second largest mine it operates.
On its website, Antofagasta says “the bulk” of its operational footprint is in Chile, with Centinela and Zaldívar among the four mines listed there.
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