The supervisors’ union at BHP’s Escondida mine, Chile announced that they have reached an agreement on a labour deal. The announcement which came on Friday indicates that a probable strike at Escondida has been averted.
The new contract was approved in a 58pc to 41pc vote by the union members. Earlier supervisors at the mine had rejected BHP’s final contract offer. However, the management continued negotiations through last week.
The ongoing negotiations at the several mines in Chile have impacted global copper prices in the last few weeks. Price rose amid uncertainty around disruption of supplies from Chilean mines.
Escondida produced 1.19mn mt of copper in 2019.