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BHP reached a preliminary deal with the supervisors’ union at its Escondida mine in Chile, avoiding a strike at the world’s largest copper deposit, the company announced late on Wednesday.“It was agreed to extend the mediation for an additional day in order to finalise and sign a new collective bargaining agreement once it has been ratified by its members,” BHP said in a statement on Wednesday night.
In 2022, Escondida produced 1.05 million metric tons of copper.Newmont shareholders vote in favor of $16.8bn Newcrest buyoutRussian copper exports to China and expectations of surpluses have emboldened Chinese buyers to try and dictate how much they will pay Codelco for the industrial metal next year.A flurry of copper mining deals are being lined up for the next six to 12 months, industry sources told Reuters.
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