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Freeport-McMoRan, union reach wage deal for El Abra workers

Unionized workers at Freeport-McMoRanInc.'s majority-owned ElAbra copper-gold-molybdenum mine in Chile have accepted a pay deal offeredby the company, Reuters wrote April 28, citing Juana Mejias, the union's president.

Neither the union nor the company disclosed details of the agreement,but Freeport confirmed negotiations had resulted in a deal.

The company owns a 51% stake in the El Abra mine, from whichit slashed about 650 jobsin September 2015 as operations at the mine were partially halted to reduce operatingcosts and near-term capital requirements.

Codelcoowns the remaining 49% stake in El Abra.