Antofagasta's Centinela Mine Faces First-Ever Strike as Labor Talks Collapse
ANFGF sits 51% above its 52-week low of $32.91 on light trading volume (0.3× avg).
Summary
Workers at Antofagasta's Centinela copper and gold mine in Chile will strike Wednesday after government-mediated talks failed. The dispute centers on pay and benefit disparities between unions doing the same jobs. This is the first strike at Centinela, which produced 240K metric tons of copper last year. RBC analysts expect a resolution within a couple of weeks but note tight copper inventories outside the U.S. could amplify the price impact. The strike adds to rising labor tensions in Chile's copper industry, with BHP's Escondida supervisors also voting to strike.
At the time of this announcement, ANFGF was trading at $49.60 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $48.9B. The 52-week trading range was $32.91 to $61.72. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.