Talon Metals Corp.’s Post

Chilean workers strike at the largest copper mine in the world The ongoing strike at BHP's Escondida mine in Chile highlights the significant impact labor disputes can have on global commodity markets. The Escondida mine, responsible for nearly 5% of the world's copper production in 2023, is facing operational disruptions as the union demands a larger share of profits amid rising copper prices, according to Reuters. https://lnkd.in/e7Wq6Hmn This is not the first time the union has exerted its influence; previous strikes have led to a declaration of "force majeure" by BHP and subsequent spikes in global copper prices. The union's strength is attributed to its substantial membership, which constitutes a majority of the mine's workforce, its financial reserves to support workers during strikes, and Chilean laws that prevent the hiring of replacement workers during labor actions. The union has about 2,400 members, about 61% of Escondida's workforce. Despite BHP's attempts to resume negotiations, the union has rejected the latest offer, though it remains open to dialogue. The company's contingency plan involves maintaining operations with non-unionized workers, but the extent of the operational continuity remains unclear. A smaller strike ongoing at Lundin's Caserones mine, also in Chile, is less likely to affect production since only 30% of employees there are in the mine's union. The situation underscores the power of organized labor in the mining sector, particularly when it controls a significant portion of a critical global resource like copper. Copper prices have yet to see a big impact for the current strike, with analysts citing weak demand from top copper consumer China and hopes for a quick resolution, according to Reuters. However, that could change if the strike action hardens. Picture credit: France24 #chile #strike #Escondida #copper #unionstrong #unions #laborconflict #china #supplychains

𝗦𝘁𝗿𝗶𝗸𝗲 𝗧𝗵𝗿𝗲𝗮𝘁𝗲𝗻𝘀 𝗧𝗼 𝗛𝗮𝗹𝘁 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗮𝘁 𝗞𝗲𝘆 𝗨𝗞 𝗦𝘁𝗲𝗲𝗹 𝗣𝗹𝗮𝗻𝘁 by Christopher Rivituso, MetalMiner via OilPrice.com 🔴 Tata Steel UK workers vote to strike against plans to close blast furnaces in Port Talbot, UK. 🔴 The decision follows Tata's announcement to replace the blast furnaces (#BF) with electric arc furnaces (#EAF) as part of its decarbonization scheme. 🔴 The strike could have a significant impact on the UK steel industry, with the Port Talbot plant being one of the largest steel producers in the country.   #steelindustry #UK #PortTalbot #blastfurnace #steelmaking #steel #industry #producers #steelmaker #strike #decarbonization #TataSteelUK #TataSteel The article link is here: https://lnkd.in/dqesVTir

When U.S. Steel idled the last remaining blast furnace at the Granite City Steelworks in September, the company blamed the then just started United Auto Workers (UAW) strike against the Big Three automakers for what it anticipated would be lower demand for steel. Now that the UAW has reached agreements with the Big Three automakers, the question remains, will U.S. Steel restart the Granite City blast furnace? If so, when can Granite City steelworkers expect to come back to work?

Bloomberg: BHP Workers at Top Copper Mine Go on Strike After Talks Fail Workers at BHP Group’s #Escondida mine in Chile began a strike Tuesday after failing to reach a wage agreement, setting the stage for a major disruption at the world’s biggest #copper operation. The union’s 2,400 members downed tools after rejecting #BHP’s latest proposal at the end of a five-day mediation process as part of a collective bargaining process, the two sides said in separate statements. The action will halt an operation that accounts for about 5% of all the world’s mined copper, disrupting shipments for Melbourne-based BHP, while potentially easing pressure on copper futures that have slumped in recent months along with dimming prospects for the global economy. Futures were down 0.8% at 1:38 p.m. on the London Metal Exchange. Escondida churns out more than 1 million metric tons a year, making it by far the biggest supplier of copper. Some analysts see BHP Group overtaking Codelco this year as the top global copper producer. While collective bargaining in Chile is often marked by brinkmanship and last-minute agreements, Escondida has been the scene of lengthy stoppages in the past, including a 44-day strike in 2017. Concentrate Tightness Benchmark copper traded in London surged to record levels in May as bullish investors placed bets on shortages. That emboldened unions seeking a share of the windfall for their members. But prices have since pulled back by roughly 19%, undermining some of that leverage as companies look to avoid big increases in fixed costs in a cyclical and capital-intensive business. Still, negotiations come at a time of global tightness of copper concentrate — the raw material produced at Escondida and used to feed smelters — even though the market for refined metal is well supplied for now. On the final day of mediated talks... Continue reading: https://lnkd.in/eAzBhGDZ

📰 The possibility of a multi-coast strike by the International Longshoremen’s Association (ILA) is increasingly likely. The existing labor agreement between the ILA and the United States Maritime Alliance (USMX) is set to expire at the end of September. The ILA has stated it will not agree to any contract extension or federal mediation. This means that starting October 1, the ILA could transition from operating pallet jacks to organizing picket lines. The ILA represents about 70,000 dockworkers across the U.S. and Canada. Meanwhile, the USMX represents employers at 36 coastal ports, including three of the top five busiest U.S. ports: the Port of New York and New Jersey, the Port of Savannah, and the Port of Houston. We are carefully watching the situation and its possible effects on port operations and shipping schedules. If you have any concerns about how this may impact your shipments or need help with planning, please don’t hesitate to reach out at info@welke.com.

Did you lose track of the Canadian railroad labor negotiations over the last couple months? This week the Canadian Industrial Relations Board (CIRB) is expected to make a decision on whether rail shipments are essential enough to the country to continue operations during a potential strike. As this article outlines, CPKC and CN are publicly stating different perspectives on the likelihood of a strike later in August. With another pending labor issue with East and Gulf Coast ports, shippers are making plans now to ensure continued movement of goods regardless of outcomes of these labor negotiations. TLDR; plan for the worst, hope for the best, and have a provider that can give you multi-modal services that fit your contingency plans. https://lnkd.in/gBn_tMhK

The Chilean workers strike at the largest copper mine in the world The ongoing strike at BHP's Escondida mine in Chile highlights the significant impact labor disputes can have on global commodity markets. The Escondida mine, responsible for nearly 5% of the world's copper production in 2023, is facing operational disruptions as the union demands a larger share of profits amid rising copper prices, according to Reuters. https://lnkd.in/e7Wq6Hmn This is not the first time the union has exerted its influence; previous strikes have led to a declaration of "force majeure" by BHP and subsequent spikes in global copper prices. The union's strength is attributed to its substantial membership, which constitutes a majority of the mine's workforce, its financial reserves to support workers during strikes, and Chilean laws that prevent the hiring of replacement workers during labor actions. The union has about 2,400 members, about 61% of Escondida's workforce. Despite BHP's attempts to resume negotiations, the union has rejected the latest offer, though it remains open to dialogue. The company's contingency plan involves maintaining operations with non-unionized workers, but the extent of the operational continuity remains unclear. A smaller strike ongoing at Lundin's Caserones mine, also in Chile, is less likely to affect production since only 30% of employees there are in the mine's union. The situation underscores the power of organized labor in the mining sector, particularly when it controls a significant portion of a critical global resource like copper. Copper prices have yet to see a big impact for the current strike, with analysts citing weak demand from top copper consumer China and hopes for a quick resolution, according to Reuters. However, that could change if the strike action hardens. Picture credit: France24 #chile #strike #Escondida #copper #unionstrong #unions #laborconflict #china #supplychains

Canadian railroads are on the brink of a major strike, with negotiations between rail workers and the railroads still unresolved 🚂📦 If no agreement is reached by midnight, a strike will commence, potentially disrupting supply chains across North America. The Canadian government has not intervened, adding to the uncertainty. Stay tuned for updates on this critical issue. #SupplyChain #RailStrike #LogisticsNews

East and Gulf Coast port labor negotiations to start soon

News: Impending Strike Action Threatens Canadian Rail Operations As Canada faces potential rail strikes, the automotive logistics sector could encounter significant disruptions. The Teamsters union, representing workers at Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), has voted overwhelmingly in favour of strike action over safety provision concerns in labor agreements. This development comes at a critical juncture as both rail companies play pivotal roles in supporting the North American automotive and battery supply chains. A strike could severely impact operations, echoing across the broader North American economy. 🔗 Explore the full implications of this looming industrial action and what it means for logistics in North America: https://lnkd.in/e_wxDDNU #Logistics #AutomotiveIndustry #SupplyChain #StrikeAction Megan Kelly Marcus Williams Christopher Ludwig Anushka Dixit Richard Logan Riad Mannan