BHP Strikes Deal with Escondida Union, Halting Copper Mine Strike

BHP has reached an agreement with the striking union at Escondida copper mine in Chile. The three-day strike, which began over pay disputes, will be called off, alleviating concerns about global copper supply disruptions. The union, representing 2,400 workers, has yet to comment on the settlement.

In a significant development, global mining giant BHP has successfully negotiated an agreement with the striking union at its Escondida copper mine in Chile, effectively ending a three-day strike. The resolution was announced on Friday, bringing relief amid concerns over potential disruptions in global copper supply.

The strike, which commenced on Tuesday, was driven by a deadlock in negotiations over pay between the union and BHP. The union represents approximately 2,400 workers at Escondida, the largest copper mine in the world.

BHP confirmed the breakthrough in a statement, saying, 'BHP and Union No. 1 have come to an agreement for a collective contract proposal. Along with that, it was agreed to suspend the strike underway as of this Friday, Aug. 16 at 8 a.m.' The union has yet to issue a public comment on the agreement.

(With inputs from agencies.)