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Top Copper Miner Strike Seen Wiping 10,000 Tons From Market

  • Chuquicamata stoppage enters 12th day as talks remain stalled
  • Workers rejected Codelco’s latest offer in a vote on Saturday
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A strike at a major copper mine in the world’s largest producer of the metal risks wiping out 10,000 metric tons from a market that’s already expected to end the year in deficit, according to an industry consultant.

The stoppage at the Chuquicamata mine in northern Chile could cost No. 1 global supplier Codelco $50 million as it loses production if it lasts two weeks, said Juan Carlos Guajardo, executive director at Santiago-based consultancy Plusmining. The strike at the mine, which produced 321,000 tons of copper last year, entered its 12th day on Tuesday with no signs of agreement between the company and unions.