Lundin Mining Workers in Chile End Strike with New Wage Agreement
Workers at Lundin Mining Corp.’s Caserones mine in Chile have ended a nearly two-week strike after accepting a new wage proposal.
Approximately 90% of one of the mine’s three unions voted in favor of the new three-year contract on Saturday, following a preliminary agreement reached late Friday, according to union leader Marco Garcia.
The strike, led by a union representing 29% of the workforce at Caserones, had disrupted production at the mine, which produced 137,100 tons of copper last year, according to Chilean government data.
The resolution of the strike is expected to alleviate concerns about the tight supply of copper concentrate, a key material for smelters. Lundin Mining owns a 51% stake in the Caserones mine.
Despite copper prices retreating from their record highs in May, they remain high, giving workers leverage in ongoing collective bargaining negotiations in Chile.
Earlier this year, BHP Group agreed to a signing bonus of over $30,000 per worker to resolve a strike at its Escondida mine, the largest in the world. Another union at Caserones reached a wage agreement in April.
The new wage deal at Caserones includes a 2.5% salary adjustment, a signing bonus of approximately $19,000 per worker, improved incentives, and a soft loan of $3,300 per worker, according to a company statement.
