Copper Climbs in New York After BHP Workers Reject Wage Proposal
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Copper capped the biggest gain in almost four weeks after workers rejected a wage proposal at BHP Billiton Ltd.’s Escondida mine, the world’s biggest source of the metal.
Plant and mine-shift workers “unanimously” rejected the proposal on Dec. 22, according to their union. A failure to reach an agreement may strain world supplies next year as workers can legally go on strike once the deadline for compulsory negotiations expires on July 31. Chile is the largest copper-mining nation. Prices are up 4.7 percent this year.