Union negotiations at Chilean copper mines are being intently watched by analysts and traders since a strike final month at BHP’s Escondida, the world’s largest copper mine, which resulted in an improved bonus for employees.
Codelco stated in a press release the deal is predicated on making certain employee security and the sustainability of the enterprise for the approaching many years. It didn’t element the precise phrases.
The Ministro Hales division produced 126,000 metric tons of copper in 2023.
Unionized employees at Codelco’s El Teniente complicated are additionally scheduled to barter new collective contracts this 12 months.
(By Fabian Andres Cambero and Daina Beth Solomon; Modifying by Sarah Morland)