ANTOFAGASTA, (Chile) Aug 18: Chile's Escondida, the biggest copper mine in the world, has suspended operations and broken off talks with the union as a strike that has polarised opinion about union wages entered its 12th day.

The company said in a statement late on Thursday it was taking the measures because workers had illegally blocked access roads to the mine for two days and had put at risk the health and security of people working there.

Global copper prices soared on the news, in their latest blip since the strike began, sending copper futures on a roller-coaster ride with each development in talks.

“The company wants to maintain its operational continuity and renew operations as soon as possible, as soon as the police can insure the full safety of people who work in the company,” Escondida said.

The mine, which produces 8 per cent of the world's copper, is owned by leading global miner BHP Billiton.

The benchmark three-month copper contract on the London Metal Exchange < jumped as much as $265 to $7,555 a ton, before last trading at $7,420.

“Our evaluation is that this is just another pressure tactic,” Union secretary Pedro Marin said on Friday.—Reuters