Skip to main content

BHP Spence Workers Reject Pay Offer, Approve Strike

By James Attwood and Nathan Gill
Oct. 1 (Bloomberg) -- BHP Billiton Ltd. workers at the Spence copper mine in Chile voted in favor of a strike, rejecting a pay offer by the company, a union official said.

Workers in the Spence mine union voted 525 to 1 late yesterday against BHP’s offer, Pedro Marin, president of Chile’s Mining Federation, which represents 8,500 miners, said today in a telephone interview. A unit of Melbourne-based BHP, the world’s biggest mining company, will request a five-day extension to talks stipulated by Chilean law, Ruban Yogarajah, a company spokesman, said today in an e-mailed statement.

Workers are seeking a 5 percent pay raise plus bonuses while the company is offering 2 percent, according to Marin. BHP earned a record $15.4 billion in 2008. The company said Aug. 12 fiscal second-half profit declined 65 percent to $3.26 billion after the recession curbed prices and metals demand.

“There are still opportunities to reach an agreement through dialogue,” Marin said. “If that doesn’t work other measures will have to be taken.”


Comments

Popular posts from this blog

Moving to the Suburbs: Reducciones in Recent Latin American Historiography

In 1503, the Spanish monarchy issued its first decree for the resettlement of indigenous groups in the Caribbean so that they would “live together” and “not remain or wander separated from each other in the backcountry.”[1]

As the European conquest spread to North, Central, and South America, these new settlements – known as reducciones and congregaciones in Spanish and descimentos in Portuguese – became sites of forced labor, evangelism, experimental agricultural, and refuge. Through a series of imperial policies decreed over the next decades and centuries of colonial rule, Spanish and Portuguese officials attempted to reshape the New World, including its human and natural landscapes. How colonial historians explain this process and indigenous peoples’ reactions to it is the focus of this essay.

In a review of the recent historiography of reducciones, several trends emerge that signal a shift in our understanding of the practice. As this paper will show, one common element is that …

77-Year-Old Wall Street Favorite to Face Fujimori in Peru Runoff

By Nathan Gill and John Quigley April 12, 2016 (Bloomberg) -- The victory by Pedro Pablo Kuczynski, a former finance minister, for second place in Sunday’s Peruvian president elections sets up a showdown between two business-friendly candidates, part of a regional backlash against left-wing politicians.
Kuczynski, a 77-year-old Oxford-trained political economist who’s spent more than 50 years championing debt control and free trade, won 21 percent of vote with 96 percent of the ballots counted, according to the electoral office. He will face Keiko Fujimori, who won 39.8 percent, in a second-round vote on June 5.
Click here to read the full story on Bloomberg News.

Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

By Nathan Gill April 19, 2016 (Bloomberg) -- Before a 7.8-magnitude earthquake struck Ecuador on Saturday, the South American nation’s finances were already in tatters as the government struggled to meet payments to municipal authorities, oil companies and even cancer hospitals. Cut off from global bond markets, President Rafael Correa must now find enough money to rehouse thousands.
As volunteers continue to rescue victims from the rubble of collapsed homes and buildings on Ecuador’s Pacific coast, doubts are growing about the country’s ability to pay for the reconstruction. The nation is already in its worst recession since the financial system collapsed in the late 1990s, and international reserves are at their lowest levels in almost seven years.
Click hereto read the full story on Bloomberg News.