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Gold/Mining/Energy : Copper - analysis

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From: Cal Gary	1/6/2010 4:57:55 PM
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Chuquicamata workers return after strike ends - Chile Published: Wednesday, January 6, 2010 10:53 (GMT-0400)More news from Chile By Business News Americas staff reporters Workers at Chilean state copper company Codelco's largest mine Chuquicamata returned to their posts at 5am Wednesday following the approval of a pay offer by unions that put an end to a strike that kicked off Monday (Jan 4). On Tuesday night 68.3% of the roughly 4,000 members of Chuquicamata's unions 1, 2 and 3 - which negotiated renewal of work contracts that expired December 31 in unison - voted in favor of accepting a 4% raise in base pay in addition to an inflation adjustment and about 12.1mn pesos (roughly US$24,000) in bonuses per worker, plus other benefits, according to a statement issued by Codelco early Wednesday. The new workers' contracts will last 38 months. Chuquicamata is part of the Codelco Norte branch, in northern Chile's region II, which produced 613,000t of copper in the first nine months of 2009 out of the company's total 1.21Mt in the period. Codelco is the world's biggest copper miner. bnamericas.com

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