07:37 AM EDT, 08/16/2024 (MT Newswires) -- BHP Group ( BHP ) and Chilean miners' union leaders have reached a preliminary agreement on wages Friday, potentially setting the stage for miners to return to work at Escondida, the world's biggest copper mine, Bloomberg reported Friday.

The strike began Tuesday at the mine, which accounts for about 5% of the world's mined copper, Bloomberg said.

The main union at the Escondida operation said it will temporarily lift its strike at 8 am local time Friday so union leaders can present the proposed deal to their 2,400 members, Bloomberg reported, citing statements from the company and the union.

Neither BHP nor the union could be immediately reached for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 52.55, Change: +0.30, Percent Change: +0.57