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World's largest copper mine hit by surprise strike

  • Workers began a surprise strike today at Chile's Escondida copper mine - the world's largest - to demand improved working conditions and pay; the work stoppage is planned to last 24 hours, but the miners union says the timeframe is being evaluated.
  • BHP Billiton (BHP +0.4%) and Rio Tinto (RIO -1.2%) each own 30% of Escondida, which produces ~20% of Chile's annual copper output; workers at BHP's Spence and Cerro Colorado mines also joined the labor action.
Comments (2)
  • jmjjmj1
    , contributor
    Comments (182) | Send Message
     
    I am beginning to think the Chileans are short mining stocks.
    15 Aug 2013, 02:30 PM Reply Like
  • Dr Rick Gold
    , contributor
    Comments (88) | Send Message
     
    The Escondida mine is in Atacama Desert in the Antofagasta Region of Chile. It's amazing they can get anyone to work there - at any price. And the miners are clearly not getting paid enough to spend their lives there.
    16 Aug 2013, 07:26 AM Reply Like
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