Workers at the Caserones copper mine in Chile, controlled by Canada-based Lundin Mining, have initiated a strike following unsuccessful employment negotiations. The strike, which began after talks between the company and one of the mine's unions broke down, involves 30% of the mine's workforce. Lundin Mining confirmed that operations at the mine will be "gradually reduced" as a result of the strike.
The workers are demanding a new collective bargaining agreement after the company had previously reached an agreement in April with only one of the two unions representing the workforce. The current labor dispute underscores the growing tensions within the mine, which has become a crucial asset for Lundin since it acquired a majority stake in July last year.
Caserones mine is a significant contributor to Lundin Mining's revenue, accounting for 31% of the company's $1.08 billion in revenues during the second quarter of this year. The mine is expected to produce between 124,000 and 135,000 metric tonnes of refined copper in 2024, making it a key component of Lundin's global operations.
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