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4 out of 5 labor unions at Codelco's El Teniente accept latest wage deal

All but one of the five labor unions at Codelco's El Teniente copper mine in Chile accepted the company's latest contract offer, Reuters reported Aug. 10, citing union leaders.

"The contract was approved by an ample margin after the company improved its offer," said Guillermo Lemaitre, president of the main union involved in discussions.

The union that voted against the contract has until October to strike a deal, when the current labor pact expires.

"One always wants more, but we are aware of the situation of the mining industry," Lemaitre said.

Meanwhile, unionized workers at BHP Billiton Group's Escondida copper mine in Chile entered a final phase of negotiations with the miner. The company recently requested government-led mediation with the union to avert labor action.