SPY411.49+2.97 0.73%
DIA337.86+2.73 0.81%
IXIC13,900.19+70.88 0.51%

UPDATE 1-Union at Antofagasta mine in Chile willing to extend talks, official says

· 03/16/2021 09:17
UPDATE 1-Union at Antofagasta mine in Chile willing to extend talks, official says

Updates with quote from union leader, additional context

By Fabian Cambero

- A union representing workers at Antofagasta's ANTO.L Los Pelambres mine in Chile will agree to extend government-mediated talks into next week in a bid to avoid a strike at the sprawling copper deposit, a union leader said on Tuesday.

Workers at the mine rejected the company's final contract offer last week, paving the way for a potential strike. Chilean law, however, requires the two sides to engage in government-brokered negotiations before a potential strike. nL1N2L72EI

The first round of those talks have advanced slowly, according to union secretary Luis Silva, prompting a willingness by both parties to continue to negotiate.

"By mutual agreement, we should extend the mediation for five more days until next week," Silva told Reuters.

Soaring copper prices have handed unions an additional bargaining chip in labor talks this year. Benchmark copper CMCU3 on the London Metal Exchange climbed in February above $9,000 a tonne for the first time since 2011. nL1N2KS2SA

Los Pelambres produced 372,100 tonnes of copper in 2020, equivalent to around 6% of Chile's total output.

Chile is the world's top copper producer.


(Reporting by Fabian Cambero, writing by Dave Sherwood,
Editing by Louise Heavens and Paul Simao)

((dave.sherwood@thomsonreuters.com; +56 9 9138 1047, +56 2 2370 4224; Reuters Messaging: dave.sherwood.thomsonreuters.com@reuters.net))