Lundin Mining (TSX:LUN) has reached an agreement with striking workers at its Caserones mine in Chile, putting an end to roughly two weeks of protestive action.
On August 12, Lundin announced that one of three unions, representing some 5% of the total workforce, walked out after failing to land on a new collective bargaining agreement.
“Lundin Mining remains willing to participate in meetings to reach a resolution, and will continue to adhere to legal procedures, respecting the rights of all its employees, inviting the union to engage in a constructive dialogue, and providing the authorities with all requested information,” the company said at the time.
Now, with the majority of workers having agreed to a new agreement, Lundin says a revised deal will be signed “imminently”. It also intends to focus on a safe back-to-work plan as well as a ramp-up of operations, which had been running at 50% capacity during the strike.
Under the new 36-month contract, workers will receive a 2.5% salary increase, a signing, bonus, and improved incentives. It also allows for a soft loan of 3 million pesos per worker.
Located in Chile’s Atacama region, the open-pit Caserones copper-molybdenum mine is 51% owned by Lundin, while JX Metals Corporation holds the remaining 49%. The mine produced 139,520 tonnes of copper in 2023.
Write to Oliver Gray at Mining.com.au
Images: Lundin Mining
