Chile Codelco OKs wage deal at smallest mine

SANTIAGO, July 15 (BestGrowthStock) – Chile’s state miner Codelco
said on Thursday it had reached an early wage deal with workers
at its smallest mine, Salvador, as the world’s top copper
producer gears up for key labor talks at a larger deposit.

The state giant agreed to give staff workers from two
unions a single 3 percent salary hike for the three-year
contract and bonuses worth around $14,000 per employee.

Salvador produces around 65,000 tonnes of copper per year.

Labor talks with workers at its Radomiro Tomic mine, which
produced over 300,000 tonnes of copper last year, could prove
tougher for Codelco as workers there demand a steeper salary
hike and more benefits.

That negotiation is also seen as a test for new CEO Diego
Hernandez, known as a tough negotiator during his years as head
of base metals for BHP Billiton (BHP.AX: ) (BLT.L: ). It could also
prove to be a challenge for conservative President Sebastian
Pinera who has been at odds with powerful unions on pledges to
overhaul the state enterprise.

Radomiro Tomic’s labor contracts expire in November and
union leaders have said there have been no attempts yet for
early negotiations.
(Reporting by Alonso Soto; editing by Jim Marshall)

Chile Codelco OKs wage deal at smallest mine