Codelco to Cease Operations at Troubled Ventanas Smelter

SEATTLE (Scrap Monster): The extraordinary session of the Codelco Board of Directors has approved to prepare for the closure of the operation of the troubled Ventanas smelter in Chile. The gradual closure process will be initiated with temporary stoppage upon approval of the legal adjustment.

The smelter had stopped operations in order to carry out maintenance and operational adjustments, following the order issued by the environmental regulator. It must be noted that an environmental incident at the smelter had sickened dozens of people. The workers had threatened actions, including strike, if the company does not take adequate steps to upgrade the facility so as to avoid future occurrences of such incidents.

Meantime, the company press release stated that the operations of the associated copper refinery will remain unaffected. Also, the company noted that it is committed to help affected workers secure new jobs. The other offers on card include special voluntary retirement plans, relocation, retraining etc.

The unionized workers had demanded action to make the smelter continue its operations in compliance with environmental rules. However, this requires an investment of around $53 million. A complete upgrade of the smelter could be more expensive.

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