July 22, 2016 / 9:00 PM / in 3 years

Strike ends at Anglo's El Soldado copper mine in Chile

SANTIAGO, July 22 (Reuters) - Workers at Anglo American’s small El Soldado copper mine in Chile called off a strike on Friday after reaching an agreement with the company, a union official told Reuters.

The union has been on strike since July 8 after initial discussions failed with the company during its contract talks.

El Soldado, which has lost money in the last three years, has been following an aggressive savings plan against a backdrop of falling copper prices that have led global miners to cut costs and jobs.

The mine’s copper output was 36,000 tonnes last year, less than 1 percent of Chile’s overall 5.76 million tonnes.

El Soldado is part of the Anglo American Sur venture, which is controlled by Anglo and includes the larger Los Bronces mine. State-owned Codelco and Japan’s Mitsui and Mitsubishi also own stakes.

Anglo American could not immediately be reached for comment.

Reporting by Fabian Cambero, Writing by Rosalba O'Brien; editing by Diane Craft

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