Chile's Codelco will close Ventanas smelter, union source

Chilean state-owned Codelco, the largest copper producer in the world, will start a "path to close" the troubled Ventanas smelter according to a union source.

"The board of directors decided to start a path to close the Ventanas smelter," said a union source who asked to remain anonymous because of the sensitivity of the meeting. Workers at the state-owned company had threatened to strike if the board of directors failed to make necessary investments to update the smelter.

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