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Escondida, Union To Sign Wage Deal After Workers Accept Offer

CHILE
  • Little change in USDCLP following the open after reports on a deal between workers at Chile's Escondida mine and BHP.
    • Workers at Chile's Escondida mine, the world's biggest copper deposit, have approved a new contract which will avoid a labour strike that would have dented the South American country's key industry.
    • "Union No. 1 and the company requested to extend the mediation for one more day, until Friday the 13th of August, to proceed with signing the new contract that was ratified," the company said in the statement.
  • Separately, a strike at Chilean Codelco's Andina mine enters a second day, with union leaders saying production has been halted.

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