Colombia: Workers unions from Cerrejon coal mine, owned by Glencore, BHP Group and Anglo American, propose strike over pay and benefits

Author: S&P Global, Published on: 6 March 2020

“Workers at Colombia's Cerrejon coal mine to vote on strike action Saturday: Source", 6 March 2020

…The second stage of talks between Colombia's Cerrejon coal mine and its unions SintraCarbon and SintraCerrejon concluded Friday, with miners now expected to vote Saturday for a potential strike in response to ongoing negotiations over pay and benefits…

The Cerrejon mining complex employs 12,000 people and is operated by BHP Group, Glencore and Anglo American, which hold equal stakes.

Earlier this month SintraCarbon formally rejected Cerrejon's offer of a pay increase equal to inflation in 2019 of 4% and said last month the company was trying to erode working conditions in the mine.

The union also said Cerrejon's proposal aimed to freeze miners' incomes and benefits "at 2019 levels" for two years, adding that the company had denied fixed-term contract workers permanent job security…

Several market participants were skeptical about a strike happening, with one Europe-based trader saying: "I'm not sure it'll go ahead with prices at these levels. Unions probably have a bit less leverage with prices this low."…

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Related companies: AngloGold Ashanti BHP (formerly BHP Billiton) Cerrejón Coal (joint venture Anglo American, BHP & Glencore) Glencore