Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chile’s Codelco and two of the Andina mine’s unions have agreed to terms, potentially ending a three weeks long strike.


53pc of the workers of the Sindicato Industrial de Integración Laboral (SIIL) and the Sindicato Unificado de Trabajadores (SUT) voted in favor of accepting the most recent offer from the company, Codelco noted in a Sep 2 statement. The agreement brings an end to the strike that began on Aug 12.


The new collective bargaining agreement will be valid for the next 36 months, without salary adjustments, although it does include a bonus for the end of negotiation and incentives for productivity.


Rodrigo Barrera, general manager, Codelco Andina, indicated that now they should focus on recovering the competitive position of the division in the national and international markets, as well as consolidating its profitability.


Work at the mine will resume on a date yet to be confirmed, but it is expected to be soon, to compensate for the lack of production in recent weeks and approach the 184,500mt volume that was extracted from this mine last year.

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