Codelco reaches union agreement with Salvador mine

Chile's State-owned Codelco, the world's largest producer of copper, said on Thursday it had reached an agreement with its labor union at its small Salvador mine. Codelco said it had reached a 36-month agreement that will not include salary adjustments, but will include a bonus of $4 980 for each union member, in addition to incentive targets. The agreement was supported by 80% of union members, it said.