Bloomberg reported that BHP Billiton Limited reached a wage agreement with the labor union representing striking workers at its Spence copper mine in Chile, potentially resolving an almost 6 week strike.

BHP's Santiago press office said that workers will receive 4% pay rise for 41 month long contract and a one time bonus of CLP 7 million besides other benefits.

The statement said that BHP will restart output as soon as workers vote on the deal at the mine in Chile's northern Atacama Desert.

Mr Diego Hernandez base metals president of BHP said that the Melbourne based company was losing 500 tonnes of production per day during the strike. The strike entered its 41st day in Chile.

(Sourced from Bloomberg)