UPDATE 1-Chile Codelco Mine Workers Reject Early Wage Offer-Shanghai Metals Market

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UPDATE 1-Chile Codelco Mine Workers Reject Early Wage Offer

Industry News 02:13:27PM Sep 16, 2010 Source:SMM

Sep 16. (Reuters) -

Workers at Chilean state mining giant Codelco's Radomiro Tomic mine on Thursday rejected an early wage proposal, a union leader said, leaving a potential cloud over supply stability at the world's top copper producer.

Radomiro Tomic, part of the heavyweight Codelco Norte division located some 1,670 km (1,040 miles) north of capital Santiago, produced 440,000 tonnes of refined copper in the first half of 2010.

"The offer was rejected," union leader Erwin Mascayano told Reuters by text message. Codelco's proposal included bonuses and loans totaling $31,000 for each of the 760 workers involved in the negotiation.

The workers' current contract expires in November, and wage talks will begin in mid-October, Mascayano said.
Codelco [CODEL.UL] already negotiated a new contract for its smaller Salvador division this year.

 
 

 

UPDATE 1-Chile Codelco Mine Workers Reject Early Wage Offer

Industry News 02:13:27PM Sep 16, 2010 Source:SMM

Sep 16. (Reuters) -

Workers at Chilean state mining giant Codelco's Radomiro Tomic mine on Thursday rejected an early wage proposal, a union leader said, leaving a potential cloud over supply stability at the world's top copper producer.

Radomiro Tomic, part of the heavyweight Codelco Norte division located some 1,670 km (1,040 miles) north of capital Santiago, produced 440,000 tonnes of refined copper in the first half of 2010.

"The offer was rejected," union leader Erwin Mascayano told Reuters by text message. Codelco's proposal included bonuses and loans totaling $31,000 for each of the 760 workers involved in the negotiation.

The workers' current contract expires in November, and wage talks will begin in mid-October, Mascayano said.
Codelco [CODEL.UL] already negotiated a new contract for its smaller Salvador division this year.