Metals News
Southern Copper to Suffer Small Impact from Strike, SMM Predicts
smm insight
10:34AM
Source:SMM

SHANGHAI, Apr. 11 (SMM) – A Southern Copper Corp spokesman said operations in Peru were near normal after an indefinite strike on Monday by workers for a larger share of profits, according to Bloomberg report. 

The spokesman said the Cuajone and Toquepala copper mines were running at 98 percent and the Ilo refinery was operating at 100 percent capacity. Earlier, a union representative said 80 percent of capacity was negatively affected. 

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Jose Espejo, a member of a union representing 2,200 workers, said workers blockaded the railway which transports copper concentrates from Cuajone and Toquepala to the Ilo refinery.

What's the impact on copper supply from the strike?

"The supply impact is estimated to be small due to small output at the two mines and production resumption from the strike at the other two large mines," SMM analyst says. 

According to government data, output at Cuajone and Toquepala copper mines in the southern part of Peru was 310,000 tonnes last year, taking a small proportion of world’s total. 

Another union of 800 workers at Toquepala also plans to walk off the job on Wednesday, Jose Espejo said.

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