LatinNews Daily - 14 July 2020

*The price of grade A copper on the London Metal Exchange (LME) has jumped 3.52%, closing the day at US$2.968/lb yesterday (13 July), amid reports of planned strikes in Chilean mines. The price of copper, which has been picking up after it plunged along with other commodities in March at the start of the economic crisis caused by the coronavirus (Covid-19) pandemic, had not reached such high levels since April 2019. Market analysts cite the decision (announced on 10 July) by union workers at the Zaldívar mine (in the Antofagasta Region, in northern Chile) to stage a strike on 15 July as driving this price increase. Antofagasta Minerals, Chile’s largest private mining company which operates the Zaldívar mine, still hopes to reach an agreement with the Zaldívar miners. But yesterday, workers from the Centinela mine, also owned by Antofagasta Minerals, rejected an offer from their employer and voted in favour of going ahead with a legal strike on 20 July.  

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