Codelco strikes deals with three unions

Chilean miner Codelco said it reached contract agreements with three unions, putting off the risk of a strike at the state-run company, reported Reuters.

Codelco attained an early agreement with two unions at its Ventanas division, a copper refinery in the town of Ventanas. The 36-month contract offers were accepted by more than 70% of those who voted.

In Santiago, the supervisors’ union, which had been in a formal negotiation period with the miner, agreed on a 30-month contract with 92% of the vote.

Codelco said the three new agreements “respond to the current business context and seek to increase the company’s competitiveness,” though it did not disclose financial details.

The miner is going through a historic production slide, noted the news agency, due to delays in progress on so-called structural projects, which seek to counteract a dip in deposits’ mineral grade.

Codelco is the world’s number-one copper producer.

Source: Reuters

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