BASE METALS

Possible strike action looms at BHP's Cerro Colorado

The possibility of strike action is looming at another copper mine in Chile.

Staff reporter
 BHP’s Cerro Colorado is part of its Pampe Norte copper operations in northern Chile

BHP’s Cerro Colorado is part of its Pampe Norte copper operations in northern Chile

The workers' union at BHP's Cerro Colorado has called on its members to reject a final contract offer by the company, paving the way for a strike at the small deposit, Reuters reported.

It's another potential setback for the mine, after the Supreme Court ruled in favour of indigenous communities in a complaint related to water use earlier this year.

Union leader Marcelo Franco said BHP had used the regulatory issues it faced as an excuse to lowball workers with an inadequate contract proposal, the wire service reported.

Cerro Colorado is part of BHP's Pampa Norte copper operation in northern Chile.

Strike action was averted this month at the BHP-operated Escondida mine, however labour issues have flared at Codelco's Andina and Lumina Copper's Caserones mines.

Meanwhile copper supply constraints did not depend on strike action in Chile, investment bank Jefferies said earlier this month, pointing to a lack of supply growth and increasing demand.

The red metal price hit a record high of US$10,747.50 per tonne on the London Metal Exchange in May.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Q1 Mining Equities Report 2023

Discover new trends in mining investment with insights into capital raisings and share price performance of more than 2,500 companies.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.