A general interest article from Copper Investing News
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Tue, Jul 12, 2011
By Leia Michele Toovey- Exclusive to Copper Investing News

The copper market has been rattled by an increase in worker uprisings, as employees are, once again, demanding increased wages and job stability as they see their companies rake in profits due to relatively high copper prices.

In June and July, workers staged walk-outs in both Indonesia and Chile. The most recent walk-out impacted all of Chilean state-owned copper miner Codelco’s mines. On July 11, workers organized a 24-hour strike. The strike was pre-planned and intentionally scheduled for the anniversary of Chile’s decision to privatize its mining sector. The workers went on strike to let Codelco know that they want a greater say in the country’s restructuring of its mining sector. Codelco, run by former BHP Billiton (NYSE:BHP) base metals Chief Diego Hernandez, is modifying its business plan in order to improve efficiency after years of disappointing financial results. Hernandez has said that he would not bow to union pressure and will move ahead with cost-cutting measures that include job cuts and an overhaul in the workers’ health system.

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