First Quantum reaches deal with Panama copper mine union, avoids strike

A workers union at a key copper mine in Panama said on Saturday it had reached an agreement with Canada's First Quantum Minerals' local unit, avoiding a planned strike over profit sharing and wage increases. The worker's union, Utramipa, had threatened on Thursday to stop work on Saturday, alleging an impasse in negotiation with the directors of Minera Panama, the miner's local unit. "Utramipa has reached an agreement where we have completed the negotiation processes with the Minera Panama company, we have complied with the corresponding deadlines," union leader Michael Camacho said early Saturday in a video sent to Reuters.