Chile's Codelco reaches deal with two Chuquicamata unions

SANTIAGO (Reuters) - Chile’s Codelco’s, the world’s top copper miner, said on Thursday it had reached an agreement on the contract for two unions at its sprawling Chuquicamata copper mine in the north of the country.

The agreement, which covers 611 workers, includes a salary increase of 1.2 percent and signing bonuses for a total of 11.5 million pesos (about $16,500).

There will be no change to benefits in the new agreement, which is valid for 36 months, the company said in a statement.

Earlier on Thursday, Codelco announced it had struck a contract deal with the union of supervisors at its Gabriela Mistral mine in northern Chile, averting the threat of a strike.

Chuquicamata mine produced 331,000 tonnes of copper in 2017. Codelco reported a year-on-year drop of 12 percent in its last earnings report.

Reporting by Marion Giraldo; Writing by Cassandra Garrison; Editing by Sandra Maler