(Updates with Teniente reopening)

SANTIAGO, May 3 (Reuters) - Chile's Codelco reopened the world's largest underground copper mine on Saturday as subcontractor miners analyzed a government proposal aimed at ending a sometimes violent two-week strike that hit output.

State-owned Codelco first closed its giant Teniente division earlier this week after workers were injured by subcontractor violence.

It said its Andina division, first shut 18 days ago during the latest in a series of strikes by subcontracted miners demanding a bigger share of windfall profits and improved working conditions, also was partially back at work.

Its smaller Salvador division remained shut.

"The shift has started (at Teniente). We are back in operation," a Codelco source said on condition of anonymity. "Both full-time and subcontractors went to work."

Arturo Martinez, head of the CUT, Chile's largest umbrella workers union, said on Friday that the government had made a proposal to end the strike, but he gave no details.

Union leaders are now studying it.

Government spokesman Francisco Vidal says the proposal centers on Codelco and the subcontractors fulfilling a series of agreements reached last year, among them a pledge by Codelco to absorb some subcontractors into its full-time ranks.