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UPDATE 1-Workers seal contract deal at Collahuasi copper mine in Chile

(Recasts with mining companies' confirmation; adds wage, contract details, context)

SANTIAGO, May 5 (Reuters) - Workers at the Collahuasi copper mine in Chile, owned by Anglo American and Glencore , have sealed a new contract with management that will last until 2020, the two parties said in a statement released on Friday.

Under the agreement, workers in Collahuasi's main 1,485-member union will receive no wage raise, but will score a significant one-time bonus of 11 million pesos ($16,400).

The agreement at Collahuasi, which starts when the current contract expires at the end of October and will last for three years, may help assuage fears of prolonged strikes at a number of Chile's copper mines in the coming years.

In February, workers at BHP Billiton's Escondida copper mine in Chile, the world's largest, walked off the job for a month and a half, putting a dent in Chile's economy and sending global prices for the red metal soaring.

Collahuasi produced 506,500 tonnes of copper in 2016, making it one of Chile's largest mines. ($1=671.80 Chilean pesos) (Reporting by Fabian Cambero; editing by Chris Reese, G Crosse)