BHP Averts Strike At World's Largest Copper Mine, Stabilizes Chinese Copper Supply
Portfolio Pulse from Stjepan Kalinic
BHP has successfully negotiated a new deal with the union at Chile's Escondida copper mine, averting a strike and stabilizing the copper supply to China. The agreement includes a bonus and changes to labor conditions. Copper prices fell after the deal was announced.
August 19, 2024 | 2:11 pm
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BHP has averted a strike at the Escondida copper mine by negotiating a new deal with the union, which includes a bonus and improved labor conditions. This move stabilizes the copper supply to China and has led to a slight decrease in copper prices.
The successful negotiation by BHP to avert a strike at the Escondida mine ensures stability in copper supply, particularly to China, which is crucial given the global reliance on Chinese smelters. This positive development is likely to have a favorable short-term impact on BHP's stock price.
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