Workers at Teck Resources Ltd.’s Quebrada Blanca copper mine in Chile agreed to new wage terms, averting a strike that was scheduled to start as soon as today.
The union will revise a final document before the accord is ratified, union leader Jorge Flores said by telephone. More than 85 percent of workers voted in favor of the new terms, he said.
Global copper supply was disrupted last year by strikes in Chile, Indonesia and Peru. Teck produces about 1.6 percent of Chile’s output of the metal. The South American nation accounts for about a third of the world’s copper.
At its Andacollo mine, Vancouver-based Teck reached a wage accord with workers last month.
Contract workers at BHP Billiton Ltd.’s Escondida copper mine in Chile are considering voting on a strike, union leader Jorge Marin said in an e-mailed statement yesterday.
Copper for March delivery retreated 0.5 percent to $3.846 a pound by 10:52 a.m. on the Comex in New York.