PRESS RELEASE

Escondida union getting ready for strike

By
Monday, August 6, 2018

Press release by Minera Escondida N.1 union

We inform the media and public opinion in general the following:

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On Sunday, August 5, union leaders met with representatives of the company. In this meeting, although there are other pending issues, which must also be adequately resolved in a conversation, it was stated that we needed to know what was the position on recognizing the CPI accumulated between December 2016 and July 2018. We also raised the need to eliminate the conditioning of the payment of the Operational Practices Bonus, a new situation that the company incorporated in the last offer, since today some practices are not carried out by the system provided by the Company, being exposed to the company discretionally decreasing the payment of this bonus, losing part or all of the bonus.

Following this request of the Union, a representative of the Company has informed us that it will not deliver a response on these fundamental aspects that we needed to know, in order to verify their real will to resolve the situation.

We believe that the Company missed an opportunity to make a real and concrete gesture that would allow us to project what mediation would be. Nothing prevented the Company these days from showing a positive disposition in points that give us greater tranquility and that are fully reasonable. This refusal prevents us from knowing if the Company, in an eventual mandatory mediation by the labor authority, will effectively assume this instance with a different will.

Regrettably, in this situation, the Union has not been able to reach minimum guarantees so far that justify agreeing by mutual consent to the mediation of the Labor Inspectorate.

Meanwhile, with less than 24 hours to make the legal strike effective, we are launching the preparations for our contingency plans, coordinating and communicating with our partners. So we have communicated to the total of 82 members that make up the emergency teams, which must be presented in their regular shifts to fulfill the functions defined by the minimum service authority

We expect the Company to be subject to the current legislation and not to replace any worker who exercises his right to strike, being attentive to the Union to adopt all the necessary measures to preserve our rights. We also call on the labor authority to strictly monitor this situation and enforce the legal regulations.

This press release was published in English using an automated translation system