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

BHP announced that the operations at its Escondida and Spence mines in Chile remain unaffected despite workers at Integrated Operations Center in Santiago going on strike last Thursday. The union representing 200 workers announced the strike after negotiations with the management on the revised labor contract failed.


BHP said operations at the world’s largest copper mine Escondida and at Spence mine in Chile are undeterred. The company has summoned substitute workers to get the job done, the move came under steep opposition from labor authorities in Chile.


On the other hand, copper prices have continued to soar due to a demand and supply gap driven by the global economic revival as lockdown measures in several countries are being relaxed. The spike in red metal prices has given a further boost to organized laborers to demand additional benefits.


Workers Union at Spence entered a final round of government-mediated talks after they rejected the company’s contract offer.

On-site workers at Escondida mine will start negotiating the terms of their new contract soon. 

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