(Adds quote from BHP, context on strike)
SANTIAGO, Aug 16 (Reuters) -
Global mining giant BHP has reached an agreement with a striking union at its massive Escondida copper mine in Chile, the firm said on Friday, which will see the three-day strike called off and defuse fears about a hit to global supplies of the metal.
The union, which represents about 2,400 people, had initiated a strike on Tuesday at Escondida, the world's largest copper mine, after failing to reach a deal over pay.
BHP said the two sides reached an agreement after resuming talks.
"BHP and Union No. 1 have come to an agreement for a collective contract proposal. Along with that, it was agreed to suspend the strike underway as of this Friday, Aug. 16 at 8 a.m.," BHP said.
The union was not immediately available to comment.
News: BHP UPDATE 1-BHP says strike ends at huge Escondida copper mine
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