Workers at Antofagasta’s Zaldivar copper mine in Chile accepted a revised wage offer, averting a strike that threatened to add to supply concerns in the metal’s top-producing nation.
Union members voted 387 in favor of the definitive offer to 236 against in polling that ended Saturday, according to a union document, a copy of which was seen by Bloomberg.
The two sides had extended government-mediated talks in order to put the offer to union members. The accord comes after talks broke down during regular collective bargaining proceedings. To avoid a strike, Antofagasta requested a mediation process afforded under local labor law.
The wage accord eases Chilean supply concerns that have helped fuel a copper price rally. Mines that account for a quarter of global output have shelved non-essential activities to focus on operations during the pandemic.
Separately, supervisors at Antofagasta’s Centinela mine are also engaged in mediated talks with management. The two open pit mines are in the Antofagasta region of northern Chile. The company’s largest mine, Los Pelambres, is further south in Coquimbo.