Background of the Dispute:
Global mining giant BHP has navigated around a potential strike at its Escondida mine in Chile – the planet’s most bountiful copper reserve. This achievement was made public late Wednesday.
Details on the Agreement:
In the previous month, the union workforce declined the firm’s offer, leading to governmental intervention to prevent an operational halt. Following this, BHP expressed, “After deciding to extend mediation by another day, both sides are poised to formalize and adopt a fresh collective bargaining contract after union members give their approval.”
The company confirmed that their operations remain unaffected and continue as usual.
For some perspective on the mine’s importance, in 2022, Escondida generated a staggering 1.05 million metric tons of copper.