Strike at Xstrata's Altonorte Copper Smelter Ends with New Contract

A two-day strike at Xstrata's Altonorte copper smelter in Chile has come to an end after a new three-year contract was agreed upon between the company and its 356 workers. According to Xstrata official Jon Evans, the strike was officially called off, and all workers have returned to their duties. The new contract includes an 8% increase in salary over the course of three years, which is effective immediately. This is the first strike in Altonorte's history, and the company had a contingency plan in place to ensure production continued if the strike had lasted longer.

Key Takeaways:

• The strike at Xstrata's Altonorte copper smelter in Chile, involving 356 workers, ended after a new three-year contract was agreed upon.
• The contract includes an 8% increase in salary over three years, effective immediately.
• This is the first strike in Altonorte's history, and the company had a contingency plan in place to ensure production continued if the strike had lasted longer.
• The new contract will benefit the workers and ensure smooth operations at the smelter, which has a capacity to process 820,000 tons of copper concentrate a year.
• Xstrata's Jon Evans described the outcome as "a good outcome for both parties."
• The smelter is the only privately-owned copper smelter in Chile, with major clients including Escondida mine, Codelco, and the Xstrata-owned Lomas Bayas and Collahuasi mines.

Statistics:

• 356 workers were involved in the strike at Xstrata's Altonorte copper smelter.
• The new contract includes an 8% increase in salary over three years.
• The Altonorte smelter has a capacity to process 820,000 tons of copper concentrate a year, producing approximately 290,000 tons of copper anode.

Sources:

• Dow Jones Commodities News via Comtex, Dec 20, 2006
• Xstrata PLC official Jon Evans, statement
• Lisa Yuriko Thomas, Dow Jones Newswires, lisa.thomas@dowjones.com