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Following last-minute negotiations, BHP and the supervisors' union at Chile's Escondida copper mine reached a preliminary collective bargaining agreement, reducing the immediate threat of a strike. The proposed agreement includes improved employee benefits and financial terms compared with an earlier company offer that included payments and low-interest loans worth approximately $30,000 per worker. The agreement must still be ratified by union members, with government-mediated negotiations extended to accommodate the vote. Because Escondida is the world's largest copper mine, the dispute has attracted international attention over the potential effects of a work stoppage on global copper supplies.