Codelco copper exports hit by Chile’s port strike

Codelco copper exports hit by Chile’s port strikeA two-week strike at the port of Angamos, in Chile's northern region, is affecting copper shipments from world’s No. 1 producer Codelco, and has already sliced $130 million off the miner's December income, Terra reports (in Spanish).

Other three terminals have joined Angamos since 11 pm Monday. Workers at the seaports of Iquique, Antofagasta and San Antonio downed tools in support of the demands raised by their colleagues

The company, owner of over 11% of the world's copper reserves, was hit by a one-day strike in July 2011 that cost it $40 million.

Codelco is not the only one affected. The Chilean Fruit Exporters Association (Asoex) at the San Antonio port, in the Valparaíso Region, said they have already lost as much as $50 million in revenue. Asoex added that the work stoppage is costing the port $6 million a day.

A meeting with the Chilean government is expected to take place Wednesday.