Lundin Mining has reached an agreement with the union at the Caserones copper-molybdenum mine in Chile, which has been accepted by majority of union members.
The 36-month collective contract covers a 2.5% wage increase, a signing bonus, incentive improvements, and a soft loan of $3m pesos for each worker.
This development follows a period of job action by one of the three unions representing a portion of the mine’s workforce.
The strike, which involved approximately 30% of Caserones employees, led to a gradual reduction of activities at the mine.
At that time, the company said in a statement: “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.”
A Chilean court intervened last week, ordering the striking union to cease blocking roads around the mine, a measure taken after Lundin Mining filed a complaint in Copiapo.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Earlier in April, Caserones successfully negotiated a collective bargaining agreement with another union representing an equal portion of employees.
With the new agreement in place, the company is now concentrating on a safe back-to-work plan and an efficient ramp-up of operations, which had been operating at roughly 50% capacity during the labour action.
The Caserones open-pit mine, is known for producing copper concentrate, copper cathode, and molybdenum concentrate.
SCM Minera Lumina Copper Chile, the owner of the Caserones copper-molybdenum mine, is jointly owned by Lundin Mining and JX Metals Corporation.
The Caserones mine is estimated to produce between 120,000t and 130,000t of copper and between 2,500t and 3,000t of molybdenum in 2024, on a 100% basis.
In June 2024, Lundin Mining exercised its option to acquire another 19% stake in SCM Minera Lumina Copper Chile.
