SANTIAGO – Workers at Chile’s El Soldado copper mine, owned by global mining giant Anglo American plc., blocked access to the facility on Tuesday to protest planned layoffs.
Last Friday, Anglo American released an optimization plan for the mine that envisions laying off at least 150 direct employees and contractors in a push to cut costs amid plunging commodities prices.
Workers set up barricades early Tuesday on the road leading to the mining complex, while the firm’s human resources staff negotiated with union leaders in pursuit of a solution.
El Soldado, 132 kilometers northeast of Santiago, comprises an open-pit mine, ore-crushing plants and processing facilities.
London-based Anglo American lost $5.62 billion in 2015, 123.53 percent more than the previous year, according to preliminary results released Tuesday.