Escondida, the largest copper mine in the world, reached an agreement and avoided a strike

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The union said, supervisors at Chile's Escondida mine have approved a collective contract offer that ends the risk of a strike at the world's largest copper deposit.

According to the data sent, In a close vote after an extension of the negotiations, the proposal of the deposit controlled by the multinational BHP obtained 58.41% of the 719 votes cast, compared to 41.03% who rejected it.

Last week the union members had been authorized to initiate the stoppage after rejecting by a wide margin a proposal obtained after a mediation process with the government. But the parties decided to continue in search of a solution. The company did not immediately issue a reaction on the approval.

The possibility of strikes at the world's largest copper producer had supported prices in recent days. In the South American country, one of the five unions at Lundin Mining's Candelaria mine is paralyzed. Escondida produced 1.19 million tons of copper in 2019.