Lates News

Union of Mantoverde Copper and Gold Mine under the control of Codelco announced on Wednesday that workers are prepared to strike and stop work if labor negotiations fail, possibly starting on December 29. The union, which has 645 members, rejected the contract proposal from management in mid-December, opening the window for strike action. The government has now initiated a five-day preliminary mediation process, which can be extended for another five days if both parties agree. The union stated that management has not presented any new proposals to advance the negotiations. The union has prepared for a long strike, estimating that this action will result in the management losing more than 100 million dollars in income per month. Mantoverde Mine is owned 70% by Codelco and 30% by Mitsubishi Mining. The mine is expected to produce between 29,000 to 32,000 metric tons of copper cathode by 2025.