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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: stonecrop who wrote (1915)	4/20/2008 12:05:30 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

I think the next big takeover will be First Quantum.

To: stonecrop who wrote (1915)	4/20/2008 5:03:06 PM
From: Cal Gary	Respond to of 2131

Codelco Reopens One of Three Strikebound Copper Mines (Update1) By Matthew Craze April 20 (Bloomberg) -- Codelco, the world's largest copper producer, reopened its El Teniente mine after night-shift employees crossed barricades of striking contract workers. Two other Chilean copper mines remained closed as the strike, which propelled copper prices to a record high, continued a fifth day. Contract workers stopped production at El Teniente, Chile's second-largest copper mine, on April 18, adding to strikes that idled the company's Andina and Salvador mines, a company spokeswoman said in an interview today. Andina and Salvador remain closed, she said. The strike pushed copper prices to a record $4.045 a pound on April 17. Copper has almost tripled in four years amid production disruptions in Latin America and Indonesia and surging demand in China. Unrest at Codelco may drive prices higher, said Santiago Gonzalez, Chile's mining minister and chairman of Codelco. More than 30,000 contract workers at Codelco mines are striking for better pay and benefits and want the company to observe agreements reached after last year's two-month strike, said Cristian Cuevas, president of the Confederation of Copper Workers union, in an interview yesterday. Gonzalez said during an April 18 news conference that the company has honored the accords. He also said the contracting companies, not Codelco, are responsible for contracts with their workers. ``The strike will continue until Codelco complies with the agreement we signed,'' said Cuevas, whose union organized the walkout. El Teniente is the world's fourth-largest mine for copper, used in power cables, coins and construction, according to a Dec. 5 presentation by London-based mining company Xstrata Plc. Codelco Norte, the company's largest mining division, and the Ventanas copper smelter are unaffected by the strike, the company spokeswoman said. Codelco employs 17,000 of its own workers. Contract employees perform construction, maintenance, cleaning and food service work. To contact the reporter on this story: Matthew Craze in Santiago at mcraze@bloomberg.net Last Updated: April 20, 2008 15:13 EDT