Chuquicamata Copper Mine Union asks Codelco to resubmit contract Plan

SMM6, 27th: a leader of the Chuquicamatamine Copper Mine Trade Union said the union had asked Codelco to revise and submit a new contract plan.

The move follows a vote by three unions on Codelco's latest contract plan, with 55 per cent of the miners voting against it.

Codelco has made it clear that it has offered the best contract options for the miners. But the miners said the Codelco had failed to meet workers' expectations of medical costs and pensions, and that the striking miners attached more importance to equal status with the new miners.

Under Chilean labor regulations, the Codelco can redraft a new contract for a vote within five days, so the strike will last at least until June 28.

Industry consultants estimate that several days of strikes at the Chuquicamata copper mine have reduced production to about 10, 000 tons, compared with 321000 tons at Chuquicamata last year. The strike also cost Codelco more than $50 million.

The continued fermentation of the strike will have a greater impact on copper supply in Chile, especially in the face of frequent accidents among mining companies around the world this year and a contraction in the supply of copper concentrate, the Chuquicamata strike is even worse. At present, the transaction TC of copper concentrate in the market has been below 60 US dollars / ton, the price of superimposed sulfuric acid has been falling continuously, and the production pressure of some small and medium-sized smelters in China has increased. "correlation Analysis-[SMM Analysis] Chilean National Copper Codelco Chuquicamata Workers strike Copper concentrate TC decline

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