10:45 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with additional details in the third paragraph.)

BHP Group ( BHP ) workers at the Escondida mine in Chile began a strike on Tuesday following unsuccessful wage negotiations, Bloomberg reported Tuesday, citing a statement by the union.

The union's 2,400 members at the world's largest copper operation stopped work after rejecting a new three-year labor contract proposed by BHP, the report said.

The strike will disrupt an operation that accounts for about 5% of the world's mined copper and could potentially influence copper futures, which have been declining recently, according to the report.

BHP did not immediately respond to MT Newswires' request for comment.

(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.)

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