Chile Collahuasi Makes Last Wage Offer To Unionized Workers

Chilean copper mine Dona Ines de Collahuasi handed labor leaders of some 1,600 unionized workers its "last offer" for ongoing contract negotiations, which workers must vote on by Wednesday, the company said Monday.

Collahuasi, one of the largest mines in the world, was forced to shut down earlier this year for several days after protesting contract workers blockaded the access road to the mining compound, resulting in a loss of 11,300 tons of copper contained in concentrates.

"The company has carefully studied the workers' positions...which the company looks to incorporate in a balanced and responsible manner, taking into account the company's reality," company spokeswoman Bernardita Fernandez said in a statement.

Workers now have until Wednesday to vote for or against the wage offer, which includes bonuses worth 8.9 million Chilean pesos ($18,305).

The mine is owned by diversified mining companies Xstrata PLC (XTA.LN) and Anglo American PLC (AAUKY, AAL.LN), each with a 44% stake. A consortium led by Mitsui & Co. (MITSY, 8031.TO) holds the remaining 12%.

Collahuasi produces about 500,000 metric tons of copper a year, or about 10% of Chile's annual output. Chile is the world's leading copper producer, accounting for about 35% of global output.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

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