Swapping aluminum for copper will maintain China’s resources, group says
China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources.
Chile’s state copper miner Codelco said on Thursday it had reached agreement on a new collective labor contract in early negotiations with the union of workers at its Gabriela Mistral mine in northern Chile.
The 36-month contract included a signing bonus of 4.2 million pesos ($6,216.63) and a 2 million peso ($2,960.30) premium paid to workers for agreeing to the early negotiation, Codelco, the world’s No. 1 copper producer, said in a statement.
The deal, approved by 91.7 percent of the union, also included 1.1 percent salary increases, Codelco said.
Gabriela Mistral produced around 122,700 tonnes of copper in 2017.
($1=676 pesos)
(Reporting by Dave Sherwood; Editing by Grant McCool)
