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BHP proposes contract to union at Escondida mine

Published 07/12/2018, 09:15 AM
© Reuters.  BHP proposes contract to union at Escondida mine
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  • BHP Billiton (NYSE:BHP) says it has offered a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23K bonus per worker.
  • The union's proposal early last month sought a 5% increase in salaries plus a bonus equal to 4% of profits in 2017, or nearly $40K per worker. It also demanded a 5 percent increase in salaries.
  • Talks at Escondida are in the final stretch before a 30-month contract expires at the end of July.
  • Now read: Here's What I Think Of BP (LON:BP) Buying BHP's Shale Assets


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