Colombia's Cerrejon Meets With Union, Government As Strike Looms
February 04 2011 - 11:28AM
Dow Jones News
Union officials were meeting Friday with the president of
Cerrejon LLC and the country's vice president in an effort to reach
an agreement and avoid a strike that could paralyze operations in
Colombia's largest coal mine.
Leon Teicher, the president of Cerrejon, was attending the
meeting along with the leaders of the Sintracarbon union and
Angelino Garzon, Colombia's vice president.
Igor Díaz, the president of Sintracarbon, said before entering
the meeting that a strike could be ordered by the union on Saturday
if an agreement is not reached.
A strike at Cerrejon, equally owned by mining giants Xstrata PLC
(XTA.LN), Anglo American PLC (AAUKY, AAL.LN) and BHP Billiton (BHP,
BHP.AU), would hurt Colombia's coal exports. Colombia ranks as one
of the world's top coal producers, with output at 76 million tons
in 2010. Cerrejon's coal exports in 2010 were 31.4 million
tons.
The negotiations between the union and Cerrejon focus on the
workers' demands for a salary increase of at least 7%.
-By Darcy Crowe, Dow Jones Newswires; 57-314-298-3277;
darcy.crowe@dowjones.com
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