financetom
Business
financetom
/
Business
/
Market Chatter: Rio Tinto in Talks With Oyu Tolgoi Workers to Avert Another Strike
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Market Chatter: Rio Tinto in Talks With Oyu Tolgoi Workers to Avert Another Strike
Jul 2, 2024 5:18 AM

07:52 AM EDT, 07/02/2024 (MT Newswires) -- Rio Tinto (RIO) is in talks with workers at its Oyu Tolgoi copper operations in Mongolia to prevent another strike over a drop of up to 80% in wages due to changes in the country's labor laws, Reuters reported Tuesday.

OT Watch, a non-government organization in contact with the mine workers, said it was to respond by Friday to a request to begin negotiations, Reuters said, citing an email from OT Watch Director Sukhgerel Dugersuren.

The workers went on strike in May over the sudden drop in wages and another strike is possible if the workers' wage demands are not met, Dugersuren told Reuters.

Rio Tinto said the stand-down in May did not affect mine operations and had no material impact to mine production, according to the report. "The talks are ongoing and a new collective agreement is expected to be negotiated in the future," the company told Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 65.56, Change: -0.85, Percent Change: -1.28

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gildan Activewear Up 2.1% After Hours as it Confirms Report It is in Talks With Potential Buyers
Gildan Activewear Up 2.1% After Hours as it Confirms Report It is in Talks With Potential Buyers
Mar 19, 2024
04:53 PM EDT, 03/19/2024 (MT Newswires) -- Gildan Activewear ( GIL ) was last seen up 2.1% in after-hours New York trading after the company on Tuesday confirmed news reports it is considering a sale, saying its board has formed a special committee to evaluate offers following a non-binding expression of interest to acquire Gildan. The clothing manufacturer, which is...
--NiSource Keeps Quarterly Dividend at $0.265 a Share, Payable May 20 to Holders of Record April 30
--NiSource Keeps Quarterly Dividend at $0.265 a Share, Payable May 20 to Holders of Record April 30
Mar 19, 2024
04:50 PM EDT, 03/19/2024 (MT Newswires) -- Price: 26.75, Change: -0.09, Percent Change: -0.34 ...
Tyra Biosciences Q4 Net Loss Widens
Tyra Biosciences Q4 Net Loss Widens
Mar 19, 2024
04:53 PM EDT, 03/19/2024 (MT Newswires) -- Tyra Biosciences ( TYRA ) reported a Q4 net loss late Tuesday of $0.53 per diluted share, compared with a loss of $0.31 per share a year earlier. Analysts polled by Capital IQ expected a loss of $0.48. As expected, no revenue for the quarter ended Dec. 31 was reported. The company said...
Amcor CEO Ron Delia to Retire; Peter Konieczny Named Interim CEO; Fiscal 2024 Adjusted Earnings Guidance Affirmed
Amcor CEO Ron Delia to Retire; Peter Konieczny Named Interim CEO; Fiscal 2024 Adjusted Earnings Guidance Affirmed
Mar 19, 2024
04:51 PM EDT, 03/19/2024 (MT Newswires) -- Amcor ( AMCCF ) said Tuesday that Chief Executive Officer Ron Delia will retire, effective April 15, while continuing in an advisory role through Sept. 30. Chief Commercial Officer Peter Konieczny will be interim CEO, the company said. Amcor ( AMCCF ) said its board is conducting a search process for a new...
Copyright 2023-2026 - www.financetom.com All Rights Reserved