BHP offers 17% pay raise in union talks
Share
- BHP offered a 17% pay raise to resolve ongoing union negotiations at Port Hedland.
- The negotiations affect operations at the key facility that exports $80 million in iron ore daily.
- Talks will continue next week through the Fair Work Commission to finalise the four-year deal.
BHP (ASX:BHP) ended talks with unions representing Port Hedland iron ore workers without a deal but offered a 17% pay increase over four years.
The union alliance has met almost weekly in recent months to secure a four-year agreement at the world's largest iron ore loading port.
"Today we tabled a strong, updated proposal that is a significant step towards delivering a fair and reasonable agreement for our port workers," the company said in a statement.
The proposed agreement includes a transition payment of $25,000 paid over two years alongside higher roster allowances.
Following the announcement, the BHP share price was unchanged at $62.88.
Australia supplies around 900 million tonnes of steelmaking raw material each year to global markets.
