International

Workers strike at world’s largest copper producer, Chile’s Codelco

AFP

Workers at Chile’s state mining company Codelco, the largest producer of copper in the world, went on an “indefinite” strike on Wednesday, unions said, protesting the closure of a foundry in one of the country’s most polluted regions.

Codelco announced last week that it would close the Ventanas foundry in the towns of Quintero and Puchuncavi.

The Copper Workers Federation (FTC) released a statement saying there was “full support for this paralyzation in solidarity with the workers at the Ventanas division” from Codelco’s other divisions.

FTC president Amador Pantoja told a local television station the strike will cost Codelco $20 million a day.

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The FTC represents around 14,000 Codelco workers and another 40,000 external contractors, Pantoja added.

Unions described the closure of the Ventanas foundry, located around 140 kilometers west of Santiago, as “arbitrary” and are demanding the government invests $54 million to bring the plant up to the highest environmental standards.

The entrance to Ventanas was blocked by burning roadblocks and dozens of workers waving Chilean flags on Wednesday.

“No to closure, yes to investment,” read one banner.

Codelco’s decision comes after an incident on June 9 when 115 people, mostly school children, suffered sulphur dioxide poisoning released by heavy industry, provoking the closure of schools in the area.

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It was the second such incident in a matter of just three days.

Sulphur dioxide is a classic air pollutant usually linked to the burning of fossil fuels.

Greenpeace described the area around the Ventanas plant as “Chile’s Chernobyl” following a serious incident in 2018 when around 600 people in Quintero and Puchuncavi received medical treatment for symptoms such as vomiting blood, headaches, dizziness, paralysis of their extremities and strange red marks on children’s skin.

Last week, President Gabriel Boric hit out at Chile’s record on polluting the environment.

“We don’t want any more areas of (environmental) sacrifice,” he said.

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“There are now hundreds of thousands of people who live in our country exposed to severe degradation of the environment that we have provoked or allowed and, as a Chilean, that makes me feel ashamed.”

Pollution accumulated in the area of Quintero and Puchuncavi, home to around 50,000 people, after the government decided in 1958 to convert it into an industrial center that now hosts four coal-fired power stations and oil and copper refineries.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.