Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The mine supervisor union for Chile’s Centinela mine, operated by mining company Antofagasta, accepted contract negotiations to avoid a strike, the union said on Wednesday.
The proposal is set to be formalized by both parties, the union said in a statement. It added that it will take into account “that each and every one of the conditions achieved will be duly incorporated into the collective agreement that will govern us for the next three years.”
Union members had rejected a previous proposal from the mining company in mid May, and began a mediation period with the government last week.
In 2022, Centinela produced 247,600 tonnes of copper, according to data from the state agency Cochilco.
(By Fabian Cambero and Carolina Pulice; Editing by Anthony Esposito)
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