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Investing

STRIKE HITS PERU’S TOP COPPER PRODUCER

Published by Gbaf News

Posted on November 11, 2014

1 min read
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Workers Strike at Antamina Copper Mine

LIMA, Peru (AP) – Unionized workers have gone on strike at Peru’s top copper mine to protest a decline in income.

It is the first strike since operations began 13 years ago at the Antamina mine owned by an international consortium including BHP Billiton Ltd., Glencore Plc., Teck Resources Ltd. and Mitsubishi Corp.

Union Leaders Cite Significant Income Losses

Union leader Jorge Juarez says the 1,730 unionized workers who went on strike Monday account for more than half the mine’s employees. The workers say they’ve lost 40 percent of income as production dropped from last year.

Strike Impact on Mine Operations

Antamina says it is focused on maintaining output. But Juarez says the strike will affect the copper concentrate plant and the Pacific port where concentrate is loaded onto ships.

Peru’s Role in Global Copper Production

Peru is the world’s No. 3 copper producer after Chile and China.

Key Takeaways

  • Unionized workers at the Antamina copper mine in Peru have launched the first-ever strike at the operation, citing a sharp decline in income due to reduced production and lower copper prices.
  • The strike involves around 1,630 of the mine’s approximately 2,860 workers, and union leader Jorge Juarez warns it will disrupt both the copper concentrate plant and port operations.
  • Despite the walkout, Antamina affirms it is maintaining production via a contingency plan and notes the strike has been declared illegal by labor authorities.

References

Frequently Asked Questions

Why are the Antamina workers striking?
They’re protesting a 40% decline in income tied to reduced copper production and lower copper prices, seeking compensation or bonuses.
How many workers are involved in the strike?
Approximately 1,630 unionized employees—over half of the mine’s total workforce of around 2,860—are participating.
What is Antamina’s response to the strike?
The company says it is operating under a contingency plan to maintain planned production and notes that the strike has been declared illegal by labor authorities.

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