CAPITAL MARKETS

BHP calls force majeure on Escondida shipments

COPPER concentrate shipments from Escondida in Chile, the world's largest copper mine, have been ...

MiningNews.Net
BHP calls force majeure on Escondida shipments

The Dow Jones newswire reported that in a filing to the local SVS securities regulator, Escondida called the workers’ strike illegal and noted the walkout was “producing an impact on the production of copper concentrates”

Union spokesman Marcelo Tapia reportedly told the newswire production at the mine had completely stopped and access to the port had been blocked.

The mine’s sole union, comprising 2375 members, went on strike last week to protest what it claims are unmet contract terms.

BHP called the strike illegal and declined an invitation earlier this week to assist a government-mediation round of negotiations.

BHP holds a 57.5% stake in the mine, with Rio Tinto holding 30% and a Japanese consortium led by Mitsubishi holding the balance.

Shares in BHP were down 1.51%, or A65c, in morning trade to $42.35.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.