| Union mulls action after 700 workers fired at Freeport mine in Chile | |
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SANTIAGO, Aug 31 (Reuters) - A Chilean union that represents copper mine workers on Monday rejected a move to drastically cut staff at the El Abra mine owned by Freeport-McMoRan and was considering action after 700 workers had their jobs terminated at the weekend. Over the weekend the company began to send letters announcing around 700 dismissals and refusing any negotiation, said Juana Mejias, who heads the mine's local union. "The situation is complex and a true 'massacre' that they have carried out by dismissing 50 percent of the workforce," she said. El Abra produced around 166,000 tonnes of refined copper last year out of Chile's total 5.7 million, according to figures from state copper commission Cochilco. That placed it just outside the top 10 biggest mines in Chile, which produces around a third of the world's copper. Any labor action would be a fresh headache for state-run Codelco, which owns the remaining 49 percent stake in El Abra. Codelco has just resolved a three-week dispute with contractor workers across its operations, which cost some 17,000 tonnes in lost output. (Reporting by Rosalba O'Brien in Santiago, additional reporting by Nicole Mordant in Vancouver; Editing by Richard Chang)
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a copper and gold producing company based in United states of america. Freeport McMoran produces copper, gold, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is 2.1 billions as of today (€ 1.9 billions). Its stock quote reached its lowest recent point on March 06, 2020 at 10.00, and its highest recent level on September 18, 2024 at 43.92. Freeport McMoran has 47 442 200 shares outstanding. |