Chile

Recent Escondida strike may push Chile into recession

Recent Escondida strike may push Chile into recession
Chile’s longest mining strike since 1973 threatens to tip the economy into recession. (

A historically long 43-day strike at BHP Billiton’s (ASX, NYSE:BHP) (LON:BLT) Escondida copper mine in Chile, the world’s largest, may tip one of Latin America’s strongest economies into recession for the first time since the global financial crisis, experts say.

A historically long 43-day strike at BHP Billiton’s Econdida mine caused Chile’s copper sector to shrink 17% in February, which may push the nation into a technical recession.

While the country’s central bank said earlier this month that the stoppage would only knock a percentage point off GDP growth in the first quarter, FT.com reports the labour action actually caused Chile’s copper sector to shrink 17% in February, which may push the mining-dependent nation into a technical recession in the first quarter of 2017, which will become clear when figures are released in May.

Right-wing…

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