Reuters reported that workers at the world's top copper mine, Chile's Escondida will vote on a bonus offer aimed at ending 14 day strike that has stoked supply fears and raised the specter of more unrest.

Mine owner BHP Billiton defied the striking workers, resubmitting an offer they snubbed last week and saying it would take steps to resume operations at a mine that extracts 7% of the world's copper.

Mr Marcelo Tapia union leader said that the proposed bonus worth USD 5,760 fell short but would be put to a vote on Thursday afternoon. The new offer does not fulfill the expectations of our people but it is something that has to be resolved in the assembly.

Workers said that the bonus is the only hurdle preventing a deal to end a strike that has fanned global supply fears and raised the specter of further labor unrest in top copper producer Chile. The surprise strike has lasted longer than many industry insiders expected halting operations at a mine and keeping upward pressure on copper prices.

Escondida's operator said that the company has fixed its position. It is our duty to take the necessary measures to resume our operations and protect the right to work.

Workers this week lowered their demands to USD 8,700 in a bid to end the stoppage that is believed to have cost BHP nearly 40,000 tonnes of output so far. Soaring commodity prices have emboldened workers from Zambia to South Africa and Australia to demand a bigger share of the near record profits of mining giants like Anglo American and Freeport McMoran.

(Sourced from Reuters)