Workers are threatening to walk off the job soon to protest plans to transform the century-old open pit into an underground mine.
Chile Mining News
Strong demand growth will be largely focused on high-grade lithium, according to research firm Roskill.
Workers are pushing off further negotiations until later this year when their contracts expire.
Ponce has held power at SQM since it was privatized under Pinochet in the 1980s and is still the largest shareholder.
Miners around the globe produced 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world’s leader Chile.
The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China’s Tianqi Lithium.
Sale is part of chief executive Andrew Mackenzie’s bid to focus on large assets in commodities such as iron ore, copper and oil.
The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,
Prosper One enters Memorandum of Understanding (MOU) to spend $3m to earn 55% of lithium Chile's Pintadas Norte project.
Prosper One and Lithium Chile will enter into a joint venture agreement where Prosper One may earn a 55% interest in Lithium Chile’s Pintadas Norte project.
Nelson Pizarro wants to remain at the helm of the world’s biggest copper company until he can cut the ribbon on a project to convert its flagship pit into a giant underground mine.
It produced 4,600 tonnes of lithium more than Chile in 2017 boosted mainly by record output at Mt Cattlin and Mt Marion mines.
Project is expected to extend Fort Knox mine life to 2030 and generate 17% internal rate of return (IRR) at a low capital cost.
The deal also includes a 2 percent increase over current base salaries.
The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.
As scrap ban bites Chinese traders up May cargoes 37% year on year.
Labour negotiations in the copper mining industry still left to resolve - including Escondida - represent about 2.6 million tonnes out of global copper supply.
Up nearly 4% after union at world's only 1 million tonne copper mine demands owner BHP makes biggest bonus payout ever to Chilean mineworkers.
SQM has retained former chairman Julio Ponce as an adviser despite an agreement to distance himself from the firm to end a long-running royalties dispute.
The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.
The Anglo-Australian miner has until mid-June to respond to the union's demands.
Chilean lithium producer SQM shares punished after $1 billion of shares auctioned below ruling price.
The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.
Mining lithium in the salars of Chile and Argentina is much more cost-effective than hardrock mining.
Codelco just achieved a new, less enviable mantle -- the only major mining company with an all-male board and senior management team.
Codelco chief executive Nelson Pizarro said a strong copper price in early 2018 had offset the impacts of rising production costs.