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Amerigo Resources Ltd T.ARG

Alternate Symbol(s):  ARREF

Amerigo Resources Ltd. is a Canada-based copper producer. The Company owns a 100% interest in Minera Valle Central S.A. (MVC), a producer of copper concentrates. MVC, located in Chile, has a long-term contract with the El Teniente Division (DET) of Corporacion Nacional del Cobre de Chile (Codelco) to process fresh and historic tailings from El Teniente. The Company operates in one segment, the production of copper concentrates under a tolling agreement with DET.


TSX:ARG - Post by User

Post by downwithdotcom1on Aug 16, 2024 12:02pm
84 Views
Post# 36182753

Major mine now on strike in Chile............

Major mine now on strike in Chile............

see below...dwdc

Workers at BHP‘s Escondida copper mine in Chile downed tools on Tuesday after wage negotiations ended up without and agreement between the parties, despite 
the government’s mediation.

The strike at the world’s largest copper mine began at 8 a.m. local time on Tuesday and involves the union’s 2,400 members, leaders said in a emailed statement, though no formal announcement has been released yet.

“We’re convinced we made every responsible effort to reach an agreement, but that wasn’t possible,” the union said.

BHP representatives and union leaders sat down on Monday for one last session of mediated talks that extended to the early hours of Tuesday. Before the tense meeting, the Australian mining giant presented an improved wage offer directly to workers and the labour regulator, which included a US$28,900 bonus for each worker.

According to BHP, union leaders didn’t show up to scheduled sessions earlier Monday. Workers leaders said the company was aware they wouldn’t be attending the earlier discussions, accusing BHP of revealing the terms without prior consultation.

The last significant time Escondida workers downed tools was in 2017 and lasted 44 days. The stoppage hurt production, drove global copper prices up and became the longest private-sector mining strike in Chile’s history.

It’s estimated that Escondida — responsible for about 5% of the world’s total copper output — failed to produce more than 120,000 tonnes of the red metal due to that strike.

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