BHP union halves Port Hedland strike action
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- The Australian Manufacturing Workers Union halved its planned 48-hour strike at Port Hedland to a 24-hour stoppage.
- The industrial action threatens to disrupt iron ore shipments estimated at more than $250 million across the weekend.
- Unions are seeking to lock pay rates and working conditions into a new collective bargaining agreement with BHP.
The Australian Manufacturing Workers Union halved its weekend strike at BHP (ASX:BHP) operations, leaving a 24-hour stoppage.
About 50 members voted for the reduction to avoid losing two consecutive days of pay.
"Our focus remains on reaching a fair and reasonable agreement," said the BHP spokesperson.
The company stated that the disrupted iron ore shipments are estimated to total over $250 million.
Following the announcement, the BHP share price was up at $62.82.
Unions are seeking to lock pay rates and working conditions into a new collective agreement.
Both parties made progress in recent negotiations and plan to meet again on Aug. 18.
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