Seeking Alpha

Huge earthquake hits off the coast of Chile

  • A massive 8.2 magnitude earthquake has struck off the northwest coast of Chile, causing a 2 meter high tsunami, killing at least five people and leading to much damage.
  • While hundreds of thousands of people have been evacuated from the affected areas, mining operations in the region appear to be relatively unaffected.
  • Companies with interests in the area include Anglo American (AAUKF) and Glencore Xstrata (GLNCY), which operate the huge Collahuasi mine near the border with Bolivia. Workers were evacuated, but the mine doesn't seem to have been damaged. Teck Resources (TCK) and Codelco, the world's biggest copper producer, also own interests in the region.
  • Copper futures jumped following the earthquake but then fell back, and are +0.3% to $3.048 a pound.
Comments (2)
  • gmanwicksy
    , contributor
    Comments (131) | Send Message
     
    Those tsunamis are a bad bit, really scary stuff to see a wall of water coming at you I bet. Makes me nervous to go to the beach somewhere on an island in the ring of fire district.
    2 Apr 2014, 05:47 AM Reply Like
  • mjc99
    , contributor
    Comments (76) | Send Message
     
    I guess the SA editor's perspective should be expected since this is an investment blog. But somehow, the fact that at least 5 were killed but "mining operations in the region appear to be relatively unaffected" seems a bit crass.

     

    Reminds me of the scene in Blazing Saddles where they almost lost another railroad hand cart.
    2 Apr 2014, 10:59 AM Reply Like
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