August 08, 2006


And this little example proves it. Chile strikes hit BHP copper contracts:
BHP Billiton Ltd has declared a force majeure on copper concentrate contracts, after confirming that strike action has cut capacity at its Escondida mine in Chile to 40 per cent.

"We have declared force majeure on our concentrate contracts," BHP spokeswoman Emma Meade said.

"Our cathode production has been suspended."

Escondida, located in Chile's Atacama Desert, is the largest producer of copper in the world with the lowest costs and is operated by BHP Billiton, which owns a 57.5 per cent stake.

Rio Tinto holds 30 per cent, Jeco Corporation 10 per cent and the World Bank 2.5 per cent.
What the #$%& is the World Bank doing, investing in exploitation of cheap labour?


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