Panic stations will set in soon - if speculators and hedge-funds...

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slc4me

4,306 Posts.

20/07/17

20:28

Post #: 25992213
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Originally posted by thaiinvest ↑

Peru - strike is on - and will have quite a big impact on the major mines - generally bigger the mine more likely to be unionised - impact on copper will be much bigger than zinc

" 2nd largest ZN producer,Peru .... 50 mines out..indefinite
Mine workers strike in Peru, world's No. 2 copper producer
The Associated Press
LIMA, Peru
Union workers at more than 50 mines in Peru have gone on strike to protest parts of a labor reform that they say will harm workers' rights.
Ricardo Juarez is leader of a national federation of miners. He says the strike is "indefinite" and 90 percent of unions have joined.
Juarez argued that laws approved by President Pedro Pablo Kuczynski would make it easier for mass layoffs and weaken inspection bodies.
The protest targets mining activity in the world's second-biggest copper-producing nation.
But Energy and Mines Minister Gonzalo Tamayo said Wednesday in an interview with Radioprogramas that the strike's effect "is relatively limited."

He said mine companies have back backup plans and equipment."

Quite a few mines including Trevali are non unionised and anticipate no slow down in mining production (its a shitty job - but if you look after and pay your workers well then thats fair and better long term and rewarded in return for good companies). However may have trouble moving product from mine to port - though in Trevali's case they have facilities to stockpile 2-3 months of production at mine.

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Panic stations will set in soon - if speculators and hedge-funds start to get a sniff of a quick buck then the POZ can pop very quickly.

RVR Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
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Panic stations will set in soon - if speculators and hedge-funds...

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