Workers at Antofagasta’s Centinela copper mine in Chile have ended their strike after approving a new contract with a strong 94.49% “yes” vote. The dispute, which lasted over a week, involved more than 700 workers from the Distrito Centinela and Minera Esperanza unions. The main point of contention was the push for equal benefits across both unions. Talks resumed midweek, and the agreement was ratified on Sunday, bringing an end to the strike that had also seen three workers begin a hunger strike.
Antofagasta reported that copper production at Centinela remained at normal levels throughout the strike, despite the labor disruption. The mine produced 240,400 metric tons of copper in 2025. While the stoppage had contributed to concerns about copper supply disruptions, the company’s assurance that output was unaffected may ease some market worries.
For copper traders, the resolution of the strike removes a key source of uncertainty. Near-term copper prices had carried an extra “insurance” cost due to fears of potential supply interruptions. With the dispute settled and production stable, this premium is likely to dissipate, reducing near-month price volatility. However, longer-term concerns about copper supply growth remain unchanged.