October 22, 2012 / 4:41 PM / 5 years ago

Anglo reaches labor deal with Chile Los Bronces- union

SANTIAGO, Oct 22 (Reuters) - Global miner Anglo American and unions at its Los Bronces copper mine in south-central Chile reached a labor contract after five months of difficult negotiations, a union source told Reuters on Monday.

Anglo’s flagship Los Bronces deposit produced 245,000 tonnes of copper last year. Chilean state miner Codelco and Japanese trading houses Mitsubishi and Mitsui also have stakes in the mine.

“The vote was very divided,” Eduardo Rocco, president of the MSA union, told Reuters. He said 51 percent of workers in his roughly 600-strong MSA union voted in favor of the deal.

The four-year agreement includes a 4 percent salary increase as well as bonuses and loans worth around $33,000, Rocco added. He said another union, known as Union No. 2, with about 500 members, had also agreed to the deal.

A spokesman for Union No. 2 confirmed it had reached a deal with Anglo, but could not give further details.

Anglo was not immediately available for comment.

Los Bronces plans to double its annual output and could produce a peak of 490,000 tonnes of copper per year, positioning itself as the world’s No. 5 copper mine.

Anglo ended a bruising 10-month legal battle with rival Codelco in August by agreeing to sell a stake of its south-central Sur properties at a discounted sum of $2.8 billion.

Chile, the world’s leading copper producer, was hit by a wave of work stoppages last year, as record prices for copper triggered demands for higher pay and improved benefits.

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