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Late Deal Avoids Strike at Top Copper Mine

CHILE
  • Workers at the Los Pelambres copper mine in Chile accepted a wage offer in an eleventh-hour deal that averts a strike at Antofagasta Plc's largest operation.
  • Members of the main union voted 71% in favor of the proposal after a lengthy negotiation that included two weeks of government mediation, the union said.
  • A wage accord at a mine that accounts for about 6% of Chile's copper production will ease concerns over tight global supplies that had helped send the metal to the highest prices in almost a decade. (Bloomberg)

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