Historic Deal Reached at Chile's Escondida Copper Mine

The union at Escondida copper mine in Chile signed a three-year deal with BHP, ending a strike that risked disrupting global copper supplies. The agreement includes changes in labor conditions and bonus structures. The strike was prompted by payment disputes but suspended after a preliminary agreement.

The union at Chile's Escondida copper mine, the world's largest, has officially signed a deal with BHP, bringing an end to a strike that had the potential to upset global supplies of copper.

The newly signed three-year agreement introduces changes in labor conditions, including measures to optimize shift changes, increase equipment utilization, and comply with Chile's 40-hour labor law, BHP announced in a statement.

Earlier, the powerful union at the mine had gone on strike over payment disputes but reached a preliminary agreement that halted the strike temporarily. The final deal followed a warning from the union indicating a possible restart of the strike if contract terms were not addressed.