The union at Chile's Escondida copper mine, the world's largest, has signed a pay deal with BHP, ending the risk of a further strike that could have threatened global supplies of the red metal.
Earlier the union had sent a memo to members warning it might call another strike if BHP did not "rectify its position" over contract talks.
Union at BHP's Escondida copper mine in Chile signs new deal, ending risk of strike — Reuters (@Reuters) https://t.co/QMozF4yPvg pic.twitter.com/TF1A3fkyeNAugust 19, 2024
The mine's powerful union had gone on strike on Tuesday over payment disputes before coming to a preliminary agreement on Friday to end it.
At Escondida, memories remain fresh of the historic 44-day stoppage in 2017 that jolted global copper markets and slowed Chile's economic growth.
Based on data from the state-run Chilean Copper Commission (Cochilco), Escondida accounted for 23.7 per cent of the South American country's copper production during the first half of 2024.
The mine produced 614,400 tonnes of copper in the first six months of 2024, according to Cochilco. Chile's total production of the red metal during this period amounted to 2.6 million tonnes.
with AAP
