Threat of strike at Chile's Los Pelambres copper mine lifted

Santiago, March 24 news, workers at the Los Pelambres copper mine in Chile, owned by Antofagasta, said on Tuesday that they had accepted a contract and abandoned the threat of strike.

Union Secretary Luis Silva stated that union members voted 70.65% in favor and 29.35% against accepting the contract.

Silva said: "We are satisfied with the work we have done, but we should also recognize the company's efforts to reach an agreement."

Negotiations surrounding the 36-month contract have been long and sometimes fierce. Members voted to reject the previous offer and went on strike on March 9.

However, two weeks of mediation led by the government led to a large-scale mine transaction in Los Vilos, 140 miles north of San Diego.

The recent surge in copper prices to the highest level in 10 years has aroused concerns among industry insiders that this year's collective bargaining may put pressure on costs.

Chile's copper industry is one of the industries least affected by a series of restrictions imposed by the country to contain the coronavirus outbreak.

Los Pelambres produced 372,100 tons of copper in 2020, equivalent to about 6% of the total output of Chile, the world's largest copper producer.