Chilean state-owned copper company reaches salary agreement with Radomiro Tomic copper mining union

SMM: Chilean state-owned copper company (Codelco), the world's largest copper miner, said on Thursday that it had reached a preliminary salary agreement with a trade union at Radomiro Tomic.

The 36-month agreement does not affect wages, but includes a final bonus equivalent to about $4800 per worker.

"the agreement also establishes a variable incentive mechanism to meet output and cost targets," the company said in a statement. "

Chile's state-owned copper company basically maintained production during the novel coronavirus outbreak by laying off staff, adjusting its schedule and shelving projects temporarily during the peak of the epidemic.