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Escondida Union to Copper Investors: Bet on Quick Wage Deal

  • Management expected to respond to workers demands by weekend
  • Risk of a repeat of last year’s strike has rattled markets
The Escondida copper mine.

Source: DigitalGlobe/Getty Images

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The world’s largest copper mine probably will avoid a repeat of last year’s prolonged strike as the two sides reign in expectations, according to a union leader.

The main union at Escondida in Chile presented its demands to owner BHP Billiton Ltd. on Friday, and the company has until the weekend to deliver its counteroffer. The two sides are scheduled to sit down for talks next week with the current contract expiring on July 31.