Chile mine strike fears boost copper prices

Dec 29, 2009 | 10:39 AM | Anne Riley

Workers at the state-owned Corporación Nacional del Cobre de Chile (Codelco) Chuquicamata copper mine have voted to move forward with plans to strike in protest against a low wage offer.

The strike is expected to begin in early January if government mediation attempts are unsuccessful.

The facility, part of the company's Norte division, produces some 4 percent of the world's copper concentrate, according to MF Global Ltd. base metals analyst Ed Meir, who said the planned strike should not have a significant impact on global copper supply. "The company insists it has enough stock....

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