BHP's Escondida Mine Faces Potential Strike Over Contract Dispute: Report
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Union's Response to Contract Offer: The union at BHP's Escondida mine in Chile has urged its members to reject the company's final contract offer and prepare for a potential strike, with voting taking place from Monday to Thursday. If rejected, a strike could start immediately, impacting copper production as replacement workers are not allowed by law.
Union Preparedness and Demands: Union President Patricio Tapia stated that they are better prepared for a strike than in 2017, with a significantly larger strike fund and credit agreements for workers' needs. The union is seeking improved conditions related to outsourcing, automation, health benefits, and bonuses amidst ongoing disputes with BHP.
Analyst Views on HAP
Wall Street analysts forecast HAP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HAP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
