Antofagasta seeks state mediation over labor dispute at Los Pelambres
The workers voted by a majority to go on strike after rejecting a salary adjustment offer from the company and amid opposition to a flexible working hours plan.
The Canadian mining company continues to struggle with cost overruns at its flagship Boleo mine in Mexico, the company has not yet received any funding proposals for the project and only has enough money to run it until August 1.
Despite the recent deadly and divisive disputes over mining projects in Peru, London-based mining giant Anglo American got the green light from the regional government of Moquegua for its $3 billion Quellaveco copper mine.
London-based Anglo American and Chile's state-owned Codelco have not come to an agreement, said the world’s largest copper producer Thursday, instead they have agreed to extend the talks until mid August.
Chile’s largest open pit copper mine, Chuquicamata, has officially started its conversion towards underground mining. The project will cost Codelco over $2 billion in the preliminary phase but will substantially increase production and extend the mine's lifespan.
Bolivian President Evo Morales has nationalized the assets of Vancouver-based South American Silver, accusing the miner of causing a conflict that saw violence erupt among communities around the mining project it was developing there.
Giant miner Xstrata has set Sep. 7 as the day for its shareholders to vote on the $26 billion takeover by Glencore, giving the commodities trader six weeks to reach an agreement on the conditions.
Codelco possess 9% of the world's known copper reserves and the A+ rating reflects Codelco's total ownership by the Government of Chile and its strategic importance to the country.