Friday, September 29, 2017

Chile: Hidden profit, the world's largest copper mine, falls 91%

The profits of the mine, the largest copper mine in the world, operated by anglo-Australian BHP Billiton, fell 91 percent in the first half of the year, because of the extensive hunger strike employees as early as 2017, reported on Thursday (28) the company. Between January and June, the net profit for the period was $ $50 million, representing a decrease of 91%, compared to the same period in 2016, $ $527 million, the company reported in a statement. The fall was influenced by a 39% reduction in copper production, equivalent to 327,863 tonnes, up from the 539,824 tons produced in 2016, due to the 44-day strike, the longest in the history of the company, responsible for almost 5% of the world's copper. Hidden workers declared a strike on February 9, complaining wage conditions and a new collective agreement, but, faced with the impossibility of reaching an agreement with the company, returned to work after 44 days, extending by 18 months the old agreement other , based in Chilean legislation. During the period, the annual revenue associated with the Hidden sales was $ $2.042 billion, representing a drop of 25% compared to 2016, due to lower production, due to the shutdown of the mine, in northern Chile. The costs also fell 5%, to $ $1.899 billion. The Chile is the main copper producer in the world, with about one third of world production, equivalent to about 5.6 million tons per year.
G1 - 29/09/2017 News Item translated automatically
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