Codelco reaches advanced labor deal with two small unions at El Teniente mine
2020-11-18 10:53:34 [Print]
Chile's state-owned Codelco, the world's largest copper producer, said on Tuesday it had reached advanced contract agreements with two small unions at its sprawling El Teniente mine.
The 36-month deal with the San Lorenzo and No. 7 El Teniente unions includes bonuses worth about $ 4,600, the company said. Salaries are to remain unchanged.
Codelco praised the agreement as prudent given the challenges faced by the industry, including falling ore grades and the fall-out from the still lingering COVID-19 pandemic.
Codelco largely maintained production amid the outbreak by reducing staff, adjusting schedules and temporarily shelving projects at the pandemic's peak.
The 36-month deal with the San Lorenzo and No. 7 El Teniente unions includes bonuses worth about $ 4,600, the company said. Salaries are to remain unchanged.
Codelco praised the agreement as prudent given the challenges faced by the industry, including falling ore grades and the fall-out from the still lingering COVID-19 pandemic.
Codelco largely maintained production amid the outbreak by reducing staff, adjusting schedules and temporarily shelving projects at the pandemic's peak.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' output statistics by province by month
Unit: mt
