I've been a fan of these for four years and they've done me proud. Currently holding and looking for 9 again in the near term.

BHP says Escondida copper mine now running at 40-60 pct capacity
AFX

LONDON (AFX) - BHP Billiton PLC restored operations at the Escondida copper mine in Chile after reviving pay talks with striking workers, said a BHP spokeswoman.

BHP shut the mine and called off negotiations with the union on Friday after the strikers blocked access roads to the mine.

'The mine is back up and running at between 40 pct and 60 pct capacity,' said the spokeswoman.

Escondida Minera, in which BHP owns a 57.5 pct, made a new offer to the strikers over the weekend.

The offer includes two options. One of the options is a four-year contract, providing for a 4 pct pay hike in the first three years and another 1.3 pct in the fourth year. It also includes soft loans and bonuses of around 32,000 usd for each worker.

The second offer is a three-year contract which gives a 4 pct salary increase, excluding bonuses and concessional loans of around 23,500 usd per worker.

Both options considered additional benefits related to health, education and housing.

'These last and definitive bases for the agreement are historical and exceptional given the industry conditions, ensure business stability and represent benefits that will enhance our workers' and families' quality of life,' Escondida Minera said.

The latest offer was outrightly rejected by the union on Sunday.

Pedro Marin, the union spokesman, said the workers 'can't accept a (further) reduction' of their initial demands.

The union, which began the strike on Aug 7, lowered its pay increase demand to 10 pct from 13 pct last week. BHP, however, stuck on its 3 pct wage hike offer.
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Soon be time for the end of summer doldrums and a resumption of the rise to 15 by year end imo.