|Bid||10.04 x 0|
|Ask||10.10 x 0|
|Day's Range||9.70 - 10.09|
|52 Week Range||4.08 - 10.09|
|Beta (5Y Monthly)||1.63|
|PE Ratio (TTM)||50.40|
|Forward Dividend & Yield||0.16 (1.66%)|
|Ex-Dividend Date||Dec 03, 2020|
|1y Target Est||N/A|
One of the unions on strike at Chile's Candelaria copper mine has accepted a new 30-month collective agreement from Lundin Mining Corporation on Friday, the company said in a statement. The Candelaria AOS Union, representing about 550 workers at Lundin's Candelaria operations in Chile, has accepted the last formal offer which was presented by Candelaria on Nov. 12, 2020, the company said.
(Bloomberg) -- Workers at the Candelaria copper mine in Chile rejected owner Lundin Mining Corp.’s latest wage offer, pushing a strike into a second month in the metal’s top-producing nation.In voting Tuesday, 366 of the AOS union’s 500-plus members turned down the offer, AOS President Evelyn Walter said in a text message. The company made the proposal last week, increasing a signing bonus to 17.5 million pesos ($22,900) per worker, while offering benefits that continued to fall short of some workers’ demands.The union has been on strike since Oct. 20, with the mine largely halted since then, although one processing plant continues to operate. Another smaller union has also walked off the job. Union leaders accuse management of intransigence while the company says it has submitted several “responsible and transparent” proposals. Tensions flared earlier this year over staff cuts.Candelaria produced 111,400 metric tons last year, government data show. While that’s a small fraction of the output at giant mines owned by BHP Group and Codelco, the strikes underscores supply risks in a country that accounts for a quarter of global production.Chile is entering into a busy period of collective bargaining at a time of strong Chinese demand that has copper at the priciest in more than two years. Mines owner by BHP and Antofagasta Plc narrowly avoided strikes earlier this year while two unions at the latter’s Centinela mine are engaged in wage talks.Despite operating with reduced staffing levels, Chilean mines have largely maintained output during the pandemic, allowing the country to fully benefit from high prices. While concerns over job security may give companies an advantage in the wage negotiations, unions are digging in, empowered by a year of social unrest that led to voters opting to draft a new constitution.Still, state-owned Codelco signed a wage accord this week with one of its unions at the El Teniente mine that maintained salaries and paid a signing bonus of just 3.5 million pesos.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A vote on a new contract for workers at Candelaria copper mine in Chile, operated by Lundin Mining Corp, will be fiercely contested amid ongoing divisions about whether to continue a four-week-long strike, a union chief said on Monday. At the end of last week, the company submitted an improved proposal to the Candelaria union, whose members began the legal walkout on Oct. 20, prompting the company to suspend operations. Evelyn Walter, president of the union, said one group of members were happy with the offer of $22,800 per worker for allocations and payments for the closing of negotiations, but another group wanted to push for concessions in other key aspects of the contract.