Workers vote for Escondida mine strike (Chile)

Full story: http://money.excite.com/ht/nw/bus/20060729/hle_bus-n28425238.html



Workers vote for Escondida mine strike

Saturday July 29, 9:25 AM EDT

By Pav Jordan

SANTIAGO, Chile (Reuters) - Workers at Chile's Escondida, the world's largest copper mine, voted overwhelmingly on Friday to strike to demand a new contract offer from the company that reflected soaring copper prices.

With global copper prices surging and markets nervous about supplies, 97 percent of 2,052 union workers at the mine had participated in the vote for a strike late on Friday.

"Some 97 percent of workers voted to strike," Union Secretary Pedro Marin told Reuters after votes were tallied.

He said the company will seek government mediation to hold off the strike, giving sides five more days to resolve their differences before workers walk off the job.

Marin said 1,994 workers voted, with the remaining 58 workers not participating because they were on holiday or otherwise not available.

"Only one vote was in favor of the company. One vote was blank," he said.

"On Monday we'll be talking with the company," Marin said.

:kick:

Might not be bad to buy some futures and sell them at a later date.