Albemarle seals early agreement with workers union in Chile

“This important agreement establishes the conditions, rights and obligations of both parties, in a collective deal that replaces the previous one,” Albemarle said in a statement, without providing specifics.

The miner employs more than 1,100 workers in the South American country.

Albemarle and Santiago-based SQM are the only lithium producers in Chile’s Atacama region, whose government is seeking larger state control over the industry.

Miners routinely seek to seal contract negotiations early to avoid the risk of strikes at their operations. The announcement marks the third early deal reached this year by Albemarle and its workers’ groups.