SHFE Tin Ends Down RMB 720/mt (Aug. 14, 2015)

Luis Redlich, president of the Centinela District union at Antofagasta Minerals’ Centinela copper mine, said the union will vote on the company’s wage proposal next week. He described negotiations as having reached an impasse and expects members to reject the offer, which would initiate the strike process. Redlich acknowledged that workers’ demands were high but said he believed an agreement could still be reached through government mediation. Centinela produced approximately 174,300mt of copper in concentrate last year. Antofagasta had previously planned to invest $3.7 billion to expand the mine, but is reassessing the project following Chile’s increase in mining taxes. Under Chilean law, if the offer is rejected, the parties must enter a five-day government mediation process, which can be extended by another five days, before a legal strike can take place. Any production stoppage at Centinela would weaken Antofagasta’s ability to meet its second-half output targets, while its full-year copper production guidance of 650,000–700,000 tonnes is already under pressure.

국경절 연휴가 다가옴에 따라 SMM은 연간 총 생산능력 124만 톤 규모의 대·중·소 동판 및 동대 기업 10곳의 생산 계획을 조사했다. 구체적인 휴가 일정은 다음과 같다.