BHP strikes deal to look for copper in Serbia

Union will take two more days to submit the new contract to a vote by workers.

The union said on Monday talks had gone nowhere and that it felt it had no choice but to walk out.

The group also forecasts that the mining sector will pay 17 billion soles in taxes on average each year from 2022 through 2026.

Negotiators asked labor authorities for a one-day extension in a mediation process.

Several mines in the world's top copper producer country are in the throes of tense labor negotiations.

Copper prices soared to record highs earlier this year, giving workers unions additional leverage in negotiations.

Several mines in world top copper producer Chile are in the throes of tense labor negotiations, including BHP's Escondida and Codelco's Andina at a time when supply is already tight.

The US is fertile ground for a variety of minerals, and Canadian companies are active throughout the country.

Copper prices fell to their lowest in more than two weeks on Monday as a firm dollar and demand worries weighed on sentiment.