Market Chatter: BHP Faces Port Hedland Strike After Labor Talks Fail

MT Newswires Live
07/14

BHP Group (BHP) said workers at its Port Hedland iron ore operations will proceed with an eight-hour strike on Thursday after the company failed to reach a new labor agreement with unions, Reuters reported Tuesday, citing a company statement.

The strike is scheduled from 2 pm to 10 pm local time on July 16, it said. The Combined BHP Ports Union told the publication that a five-hour bargaining session on Tuesday ended without a deal, prompting workers to move ahead with planned industrial action.

BHP, according to the report, said it was "disappointing" that unions chose to proceed despite progress in negotiations. The company added it has contingency plans to ensure operations continue safely.

The unions are seeking a new four-year labor agreement after six months of negotiations, according to the report. The two sides are set to resume talks on July 21, it added.

BHP did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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