BHP Offers Miners $28,900 Bonus to Avoid Chile Copper Strike

Mediation Session Held as Strike Deadline Approaches

Santiago, Chile - August 13, 2024

BHP Group, the world's largest mining company, is engaged in mediation talks with union leaders at its Escondida copper mine in Chile. The negotiations aim to avert a strike that would disrupt production at the world's largest copper mine.

On Monday, the final day of mediated talks, BHP offered a signing bonus of 27 million pesos ($28,900) to miners in an effort to avoid a strike. The company had previously presented an improved wage offer directly to union leaders.

The mediation session is the last chance to reach an agreement before the strike deadline of 5:55 PM EDT on Tuesday, August 12, 2024. If the strike proceeds, it could have a significant impact on global copper prices.

BHP Group is the world's largest mining company, with operations in more than 100 countries. The company is a major producer of copper, iron ore, coal, and other commodities.

The Escondida copper mine is located in Chile's Atacama Desert. It is the world's largest copper mine, producing more than 1 million tons of copper concentrate annually.