Chile Altonorte Smelter Workers to End Strike-Union-Shanghai Metals Market

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Chile Altonorte Smelter Workers to End Strike-Union

Industry News 09:13:34AM Jan 05, 2010 Source:SMM

Chile, Jan 4 (Reuters) - Workers at Chile's Altonorte copper smelter on Monday reached a new wage deal with owner Xstrata (XTA.L) and will end a week-long strike, a union leader said.

The strike, coupled with a new disruption at state-owned Codelco's Chuquicamata copper complex, the world's second largest, helped boost global prices for the red metal to 16-month highs as it fanned supply interruption fears in the world's No.1 producer, Chile.

The Altonorte complex produced 232,000 tonnes of copper anodes in 2008. Xstrata said the stoppage coincided with general maintenance at the plant, which lowered anode output to a minimum. Maintenance work, which is carried out every 2-1/2 years, is due to end on Jan. 20.
 

Chile Altonorte Smelter Workers to End Strike-Union

Industry News 09:13:34AM Jan 05, 2010 Source:SMM

Chile, Jan 4 (Reuters) - Workers at Chile's Altonorte copper smelter on Monday reached a new wage deal with owner Xstrata (XTA.L) and will end a week-long strike, a union leader said.

The strike, coupled with a new disruption at state-owned Codelco's Chuquicamata copper complex, the world's second largest, helped boost global prices for the red metal to 16-month highs as it fanned supply interruption fears in the world's No.1 producer, Chile.

The Altonorte complex produced 232,000 tonnes of copper anodes in 2008. Xstrata said the stoppage coincided with general maintenance at the plant, which lowered anode output to a minimum. Maintenance work, which is carried out every 2-1/2 years, is due to end on Jan. 20.