BHP port workers plan 24-hour strike

• Union members at BHP's Port Hedland operation endorsed a 24-hour work stoppage set for Aug. 9.
• The company stated that each full-day halt would cost about $120 million in revenue.
• The union coalition is pushing for higher pay increases to cover about 450 tradespeople and specialist operators.

Union members at BHP (ASX:BHP) held a meeting on July 30 and endorsed a 24-hour freeze on ship loading and port activity for Aug. 9.

This planned action follows a previous eight-hour work stoppage on July 16 that saw lower participation than union organisers originally anticipated.

"The unions should be focused on negotiating an agreement, not slowing that agreement down," said a BHP company spokesperson.

Each 24-hour period of blocked exports would cause BHP to lose about $7 million in iron ore royalties.

The union alliance is currently demanding a higher pay increase than the 16% over four years offered by the company for about 450 tradespeople and specialist operators.

Following the announcement, the BHP share price was down at $59.15.

The two sides are scheduled to meet with the Fair Work Commission on Aug. 4 to continue discussions on the enterprise agreement.

BHP has previously engaged in ongoing negotiations with the Australian Workers Union, the Australian Manufacturing Workers Union, and the Electrical Trades Union regarding workforce pay and conditions.