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Colombia’s biggest coal mine poised to end strike

Monday, March 4, 2013

A union representing workers at Colombia’s biggest coal mine said it reached a preliminary wage accord that may end a monthlong strike at the complex owned by Xstrata, BHP Billiton and Anglo American.

Terms will be presented to workers today and tomorrow after the negotiating committee reached an agreement with management.

The Cerrejón strike that began Feb. 7, combined with an export ban at a complex owned by Drummond and a shutdown at the La Francia mine owned by Goldman Sachs, had pushed up thermal coal prices and cost the country an estimated 192,000 metric tons of exports a day.

Source: Bloomberg