Chilean copper producer Codelco has agreed a 36-month labor deal with the union representing supervisors at the El Teniente copper mine, the state-owned company said on Monday September 14.
Codelco said the 36-month labor contract renewal deal includes no pay rises to enable the company to secure unit profitability and to generate resources for Chile to tackle social and health issues stemming from the Covid-19 pandemic. The company expects El Teniente to post earnings of $1 billion in 2020.According to the company, 88% of union members approved the agreement. In addition to a...