Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Union at BHP Billiton's Escondida mine rejects offer to resume talks

Published 12/03/2017, 11:14
© Reuters. Workers from BHP Billiton's Escondida, the world's biggest copper mine, and their relatives attend a peaceful march as they stay on strike, in Antofagasta, Chile
BHP
-
RIO
-
BHPB
-
FCX
-
RIO
-
HG
-
8058
-

By Fabian Cambero

SANTIAGO (Reuters) - The striking union at BHP Billiton's Escondida copper mine in Chile, the world's largest, said on Saturday it will not accept the company's offer to return to the negotiating table, and called on BHP to clarify its negotiating positions.

During the strike, which started on Feb. 9, Escondida's 2,500-member Union No. 1 has repeatedly said it has three non-negotiable demands the company must commit to before workers return to the table.

First, every miner must be offered the same benefits package. Second, shift patterns must not be made more taxing. Third, the company may not reduce any benefits, such as vacation and healthcare, which were included in the previous contract signed four years ago.

BHP (AX:BHP) (L:BLT) said on Friday it had invited the union to resume talks as a first step toward ending the month-long strike. The union said on Saturday it would not accept before the company addresses its three core concerns.

"This invitation that the company sent us doesn't acknowledge nor take into account the three points we've demanded, it's very ambiguous, and it talks about what we've already touched on before," union spokesman Carlos Allendes told Reuters.

"We're going to ask that the company pronounce...that it's taking into account" the union's three points, Allendes said. "If it doesn't do so definitively...(the current situation) won't break."

A representative for BHP could not be immediately reached for comment.

Escondida produced more than 1 million tonnes of copper last year, around 5 percent of the world's total, and economists expect the strike to impact February economic growth in commodities-dependent Chile.

The strike, as well as stoppages at Freeport-McMoran Inc's (N:FCX) Grasberg mine in Indonesia and Freeport's Cerro Verde mine in Peru, have pushed global copper prices up, on tighter supply expectations.

© Reuters. Workers from BHP Billiton's Escondida, the world's biggest copper mine, and their relatives attend a peaceful march as they stay on strike, in Antofagasta, Chile

Rio Tinto (L:RIO) (AX:RIO) and Japanese companies including Mitsubishi (T:8058) hold minority interests in Escondida.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.