Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
Industrias Penoles announced an indefinite halt to operations at its Minera Tizapa unit in the State of Mexico on Friday due to a strike called by the national mining union.
The union, which represents the mining, metallurgical, and steel industries, is citing violations of a collective labor agreement signed in April, Penoles said in a filing.
The company, Mexico’s top silver miner, stated that it fully complies with the obligations of the labor agreement and local labor laws. It also said it will adhere to the appropriate legal and administrative procedures to resolve the conflict.
The mine, which Penoles holds a 51% stake in, extracts lead, zinc and copper.
In May, US trade authorities said Penoles and Mexican authorities had resolved alleged workers rights violations at Tizapa after Washington requested a review through the USMCA trade deal.
(By Kylie Madry and Brendan O’Boyle; Editing by Aida Pelaez-Fernandez)
Comments