Codelco reaches deal with supervisors union at Chuquicamata copper mine

Chile’s state-owned Codelco, the world’s largest copper producer, said on Friday it had reached an agreement on a new contract with the union representing supervisors in its Chuquicamata division.

The deal affects 658 people and includes incentives associated with meeting goals and improving productivity, the company said in a statement. It did not specify the financial details of the contract, but said it runs for 36 months starting on April 1.

“Codelco appreciates and values ​​the dialogue and shared vision of the reality experienced by the company and, in particular, Chuquicamata,” said the company, which has faced a historic drop in production due to operational problems, adverse weather and a delay in multi-million dollar projects.

Chuquicamata, which is located in northern Chile, produced 268,348 metric tons of copper in 2022. It is moving from open-pit mining to underground mining, one of the structural projects designed to counteract a drop in ore grades around the country.

(By Natalia Ramos and Alexander Villegas; Editing by Paul Simao)