Miners at the Chuquicamata and Mina Sur mines, which together account for four percent of the world’s copper production, are calling for a 7.5 percent pay hike as copper prices soar.<\/p>\n
Both mines belong to the state-owned Chilean group Codelco, the National Copper Corporation of Chile, which produces around 1.6 million tonnes of copper per year and employs around 5,600 workers.<\/p>\n
About a third of the unionised miners failed to show up when their shifts began at 5 am Monday.<\/p>\n
It’s good news for copper prices, but could eventually be bad news for Chile given that copper accounts for 25%<\/a> of the nation’s GDP. Yet the Chilean IPSA index appears to so far be doing just fine<\/a>. Perhaps it’s because copper producer stocks rallied on the supply threat<\/a>.<\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n Copper prices are soaring after strikes in one of the largest copper producing nations in the world, Chile, threaten to scuttle output. AFP: Workers at two mines owned by Chile’s Codelco company, the world’s biggest copper mining company, went on strike on Monday demanding higher pay and better benefits. Miners at the Chuquicamata and Mina […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-136863","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/136863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=136863"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/136863\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=136863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=136863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=136863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/p>\n
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