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MeneameThe union at BHP Billiton's (NYSE: BHP) Cerro Colorado copper mine in northern Chile signed a preliminary agreement with the company to start early negotiations for renewal of labor contracts, the union said in a statement Wednesday.
The agreement was signed following a formal offer by BHP Billiton to begin contract talks ahead of schedule. The union said it is highly likely it will reach an agreement on contract renewals before the official start date of negotiations.
Labor contracts at Cerro Colorado expire at the end of January, a company representative told BNamericas.
BHP Billiton also reached an early agreement to renew labor contracts for workers at its 57.5%-owned Escondida mine, also in northern Chile, in which the company granted a 5% pay raise and 14mn pesos (US$26,530) in bonuses per worker, considered a precedent in Chilean mining.
However, at the nearby Spence mine the company has been unable to reach a deal with workers, who have been on strike since October 13 while the mine has continued to produce cathodes at a minimal rate using stockpiled ore.
Cerro Colorado produced 18,600t of copper cathode during BHP Billiton's July-September quarter. Spence produced 51,000t of copper cathode in the period, while Escondida's output totaled 788,126t copper in the first nine months of this year.
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