Kaz Minerals Share Discussion Threads

[notradame44] 20/3/2017 17:10

Now the weathers on our side......

[nicksoj] 20/3/2017 16:29

Copper under pressure? I presumed the meeting was going ahead as planned...

[losses] 20/3/2017 16:24

I read somewhere the government will declare the strikes illegal..

[taurusthebull] 20/3/2017 15:56

Union calls off meeting with Bhp for Monday afternoon as they are still well away from an agreement

[losses] 20/3/2017 14:17

Copper turning positive now... could see some action later...

[b2l] 20/3/2017 09:51

come on KAZ ... everyone´s working for you
-------------------

Workers At Two Of The World’s Biggest Copper Mines Are On Indefinite Strike
in World
by Federico Fuentes — March 20, 2017

Workers have gone on indefinite strikes at Chile and Peru’s largest copper mines and ignited the potential for further struggles in the sector.

The neighbouring South American countries are the world’s first- and second- biggest producers of copper, respectively. Mining companies there have benefitted over the past few years from rising global demand and prices, but workers have seen little to no benefit from the boom.

Now mine workers are flexing their muscle to demand their share of the spoils.

Explaining why his union’s 1300 members had walked off the job the day before, Zenon Mujica, the secretary general of the union at Peru’s Cerro Verde mine, said on March 11: “Copper prices have improved, production has improved, but wages for workers haven’t improved”

Cerro Verde, which is owned by US mining company Freeport-McMoran, saw output almost double last year due to the introduction of new technology.

The company has attempted to circumvent the strike by hiring contract workers. The government is expected to declare the strike illegal within the next week, meaning workers face the prospect of being sacked if they do not return to work.

However, Mujica said the union is preparing to expand the workers’ struggle into a “social conflict” and involve local communities and organisations to ensure the workers’ voices are heard.

The strike at Cerro Verde has further shaken a global copper market feeling the effects of a strike that began on February 9 at the Escondida copper mine in Chile.

Escondida is the largest copper mine in the world and represents about 5% of global production.

The strike by Escondida’s 2500 workers has so far cost BHP Billiton and its mine partners (including Rio Tinto and Mitsubishi) more than US$712 million in lost sales.

A key point of contention in negotiations is BHP’s attempts to give new workers fewer benefits than those already employed at the mine.

This has been seen as an attempt to circumvent a provision in the new labour law, set to come into effect in April, which will prevent companies from offering weaker benefits during negotiations than those afforded in previous contracts.

If BHP is successful, the door will be open to lowering the floor for negotiations at the next round of talks. This would also wind back gains won over years of struggle, including through previous strikes at Escondida in 2006 and 2011.

Conversely, there are fears that the strike could encourage others to follow suit, with the owners of a number of other copper mines in Chile – that together represent 12% of global output – set to renegotiate contracts with workers later this year.

First published in GreenLeft
hxxps://www.countercurrents.org/2017/03/20/workers-at-two-of-the-worlds-biggest-copper-mines-are-on-indefinite-strike/

[racg] 20/3/2017 09:04

Copper copper copper ® Racg ⊙/⊙
¤-¤

[losses] 20/3/2017 08:22

Kaz saved 200 mil on budget aswell on the last statement... everything going on track. We just need a decent trend on copper now.

[glenkaz] 20/3/2017 07:10

Nice! 😃

[bigbigdave] 20/3/2017 07:07

20 March 2017

MAJOR GROWTH PROJECT VAT REBATES

KAZ Minerals PLC ("the Group") announces that the refund of VAT paid during the construction of the Bozshakol and Aktogay projects has commenced. Following the completion of audit and other administrative procedures the Group has received $166 million in VAT refunds to date in 2017. The recoverable VAT paid during the construction of the two projects was included within non-current receivables as at 31 December 2016.

[penrith] 20/3/2017 01:35

Union and Management meet Monday afternoon.

[bamboo2] 19/3/2017 23:28

CU chart potential turn 21/22 March. Watch price action during next two sessions to get an idea of which direction. imo

[notradame44] 19/3/2017 22:07

No Idea? it's not going to help the strike end though....all good pressure on the price

[teamwork1] 19/3/2017 21:43

Is that going to make copper price go up?

[racg] 19/3/2017 20:52

£8.00®©RACG all rights reserved.

[rampant_bull] 19/3/2017 20:12

800 year end?

[manics] 19/3/2017 18:19

CY motivators. Might expect a decent run up to end April (in part if Cu is supportive) given Aktogay:

Q1 2017 Production Report and IMS
27 Apr 2017

AGM 2017
27 Apr 2017

Q2 2017 Production Report
27 Jul 2017

Half-Yearly Results 2017
17 Aug 2017

Q3 2017 Production Report and IMS
26 Oct 2017

[teamwork1] 19/3/2017 16:05

We all wish 6

[racg] 19/3/2017 15:57

£6.00, £6.00, £6.00,,©RACG Registered ®

[losses] 19/3/2017 15:48

I think we will be heading towards 600 again...

[teamwork1] 19/3/2017 15:32

Coming week up or down from Friday close

[plastow] 19/3/2017 13:31

We might see 410/420 on the longer term uptrend line I'm not selling .. If so buy the dips ..