Copper price extends gain on Chinese recovery while US election looms
Prices climbed as much as 0.9% after China’s monthly services activity expanded at the fastest pace since July.
SANTIAGO (Reuters) – A union at Teck Resources’ Quebrada Blanca copper mine on Wednesday rejected a contract offer from the Canadian miner, increasing the likelihood of a strike, the union told Reuters.
Either Teck or the 106-member union, which comprises 24 percent of the mine’s workforce, may still opt for a period of government-facilitated mediation before a strike begins.
“The last offer by the company was rejected and a strike was approved with 92 percent of votes,” said Jorge Flores, the president of the group, called Union 1.
The mine’s remaining unions earlier this year opted to extend their contract for 15 months, leaving negotiations until 2018.
Quebrada Blanca has produced 17,300 tonnes of copper so far this year. Chile is the world’s top copper producer.
