Australian rail workers plan strikes that could hit key coal haulage tracks By Reuters

© Reuters.  Puerto Rico creditors end opposition to bank debt restructuring

© Reuters. Australian rail workers plan strikes that could hit key coal haulage tracks

SYDNEY (Reuters) – Coal railway workers at Australian hauler Aurizon Holdings Ltd (AX:) are planning strikes after a breakdown in pay negotiations, their trade union said, a move that could delay shipments from the world’s largest coking coal export region.

Miners including BHP Billiton (AX:) (L:), Glencore (L:), Anglo American (L:) and Peabody Energy (N:) use Aurizon’s four major railways in the state of Queensland to bring coal to port.

Protracted negotiations over pay rises and rostering had broken down, the Rail, Tram and Bus Union, which represents train crews and maintenance workers at Aurizon, said in a statement on Thursday.

“Members … will start walking off the job at midday tomorrow in 11 days of action,” the union said. Four days of stoppages and seven days of overtime bans are planned.

Aurizon said in a statement that if the strikes go ahead, its Blackwater and Moura networks would shut for 24 hours from noon on Friday.

Its Goonyella and Newlands lines would close for 24 hours from noon on Saturday and its corridor into Brisbane would shut from noon on Monday for 24 hours.

The lines connect the coal-rich Bowen Basin with ports on Australia’s east coast.

“Aurizon has been bargaining in good faith (and) believes solid and constructive progress was being made,” Aurizon said in a statement.

“Aurizon is urging the unions to withdraw their proposed industrial action. It is extremely disappointing that unions have elected to take this unnecessary and premature step.”

Aurizon shares had risen 0.8 percent by mid-morning, while the broader market rose 0.3 percent.

BHP, Glencore, Anglo American and Peabody had no immediate comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here