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BHP has reached a preliminary wage agreement with workers at its Spence copper mine in Chile, which could avoid a planned strike at the operation.
Union members and the world’s largest miner have been in talks for weeks on subjects covering the size of wage increases, bonuses and benefits. Early this month, the companyThe five-day mediation, extendable for the same period, ended with the initial wage deal announced today and which has to be submitted to the vote of union members.
The events at Spence, which produced almost 250,000 tonnes of copper last year, are also being closely watched by traders for indications of how negotiations might proceed at BHP’s other Chilean mines, including its giant Escondida. Contract negotiations at this copper mine, the world’s laThe country, which produced 698,000 tonnes of copper in 2023, is targeting 3 million tonnes in annual output within the next decade.
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