Northgate Minerals Corp (NXG)

[EZ2]

Workers Reject BHP Offer
The union representing 2,000 workers at the Escondida copper mine in Chile rejected management's latest wage offer, throwing cold water on hopes that the three-week-old strike there could soon be resolved. Escondida, controlled by BHP Billiton, had offered a 4% real wage increase, up from an earlier 3% offer, and another 1.3% increase in the fourth year if workers agreed to a four-year contract. The union had been seeking a 13% real wage increase plus bonuses. High commodity prices have been swelling profits in the mining sector and lifting expectations for wages.