In a secret ballot that lasted more than six hours, the workers accepted the union leaders' contract agreement with the executives of the mine, controlled by the mining giant BHP Billiton.
The new contract will be signed today and provides for a five percent wage increase and a $16,600 signing bonus for the 2,052 miners.
Previously, the union asked for an eight percent pay increase, while the company offered four percent plus an $18,000 dollar one-time signing bonus – an offer the miners overwhelmingly rejected.
La Escondida, located about 1,300 kilometres north of the capital Santiago, produces eight percent of the world's copper, or 1.3 million tonnes a year.
Copper prices triggered strike
Rising copper prices helped trigger the strike on August 7 after the expiration of a union contract negotiated three years ago when copper brought 0.80 dollars a pound; it now brings 3.0 dollars.
The price rise meant that during the first half of the year the mining company earned 2.9 billion dollars, triple what they made a year before.
While noting it was a conflict between private parties, the government of Chilean President Michelle Bachelet kept a close watch on the strike, at one point offering to help mediate a solution.
The negotiations were also watched closely by workers at six copper mines run by the state company Codelco. The workers will soon be in talks with the company about raises.