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      Commodities Buzz: Workers strike in Chile Chuquicamata mine

      MoM Team / Mumbai, Nov 30, 2012 12:17 PM IST

        Chile's Chuquicamata Mine that is under Codelco's management is facing strike from its unionized workers. Planning of the mine to be moved underground led to strike of mine workers. The decision if formalized is likely to axe over 2000 jobs or nearly 40% of the workforce. Chuquicamata is the largest open pit mine in the world.

        Codelco has opened underground mining in July considering decline in ore grades from current mine. Codelco projects that the decision to go underground will boost the mine's productivity for the next 40 years. An underground mine employs a different kind of worker, typically paid less than what the mine workers earn now at Chuquicamata.

         


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      Source: Capital Market


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