BHP Billiton’s decision this week to give up its legal right to replace striking workers at the Escondida copper mine, in Chile, is a move aimed at sacrificing some output to undermine the union’s position, analysts said Wednesday.
The strike began on February 9, after workers voted overwhelmingly to reject a wage contract offer by BHP Billiton. That led BHP to say it would not be able to meet contractual commitments, driving the copper price up on supply concerns.
