Codelco's Project Unit Employees Reach Collective Agreement

Foreks - Chile's state-owned mining company Codelco, the world's largest copper producer, announced that it has reached a new collective bargaining agreement with the union responsible for the development of some of its key mines. Codelco stated that the new 36-month agreement affects approximately 620 workers in its projects unit and will come into effect on December 1. The company did not provide any details regarding the financial aspects of the new agreement. This unit is responsible for carrying out the development of major projects designed to extend the life of Codelco's significant mines, offset declines in ore quality, and increase production levels.