SANTIAGO, Chile – Workers at the world’s largest copper mine voted Friday to end their two-week strike, accepting much less money than they had bargained for but setting a precedent that could pose problems down the road for Chile’s mining industry.
The strike reduced already tight copper supplies around the world and cost the Escondida mine’s English-Australian owners, BHP Billiton, about $400 million in lost production. Escondida normally produces about 7 per cent of the world’s copper supply. Production dropped by about 40,000 tons during the strike.
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As the strike dragged on, BHP Billiton lowered its offer of production bonuses from $6,000 to about $5,640 a year, about half of what workers demanded.
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Union spokesman Marcelo Tapia said work would resume quickly if the agreement is signed as expected Friday.
Escondida workers have seen their monthly production bonuses decline from $650 to $195 despite record global copper prices. BHP Billiton said the walkout by 2,350 workers was illegal since it came outside the normal period for negotiating new deals.
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