Agreement ends a four-month-long strike at Mexico’s largest gold mine, which cost Newmont millions of dollars a day.
Workers at Peñaquito, Mexico’s largest gold mine, accepted a proposal from operator Newmont (NYSE: NEM) (TSX: NGT) late on Thursday, ending a four-month-long strike that cost the miner millions of dollars a day.
Peñasquito workers will receive a 8% pay increase for each shift, effective retroactively to Aug. 1, the union said in a statement. Each of the nearly 2,000 unionized workers will also get an equal share of the 152 million Mexican pesos ($8.3 million) bonus given by Newmont.
The union had also demanded a larger share of the mine’s profit, from the 10% agreed on in 2022 to 20%. This dispute, the union said, will be decided by Mexico’s tax agency, while workers get 10% of profits for 2023 as long as the company sees a net income gain.
Newmont, the world’s largest gold producer, declared force majeure in June on the mine deliveries. It said in September the dispute was costing it nearly $1 million a day in maintenance costs and $2.7 million a day in lost revenue.
The mine, located in the centre-north state of Zacatecas, is a major supplier of gold and silver and also produces zinc and lead.
The fourth-month long strike was the third labour dispute at Peñasquito since Newmont acquired it through its merger with Goldcorp Inc. in 2019.
Филиал № 4 ОСФР по Москве и Московской области информирует:
С 1 августа Соцфонд увеличит страховые пенсии россиян
Филиал № 4 ОСФР по Москве и Московской области информирует:
С начала 2024 года 140 тысяч женщин и новорожденных Московского региона получили услуги по родовым сертификатам
Филиал № 4 ОСФР по Москве и Московской области информирует:
За полгода 14,9 тысячи жителей Московского региона оформили страховую пенсию в автоматическом режиме на портале госуслуг
Более 40 тысяч семей в Москве и области получают ежемесячные выплаты из средств материнского капитала
A Google Doodle animator is my new favorite Elden Ring lore theorist thanks to this cartoon retelling of Shadow of the Erdtree set to a Taylor Swift song
Conscript is an old school survival horror game where the horror is just that you're in World War 1
Warner Bros acquires MultiVersus devs as it shifts focus to free-to-play
D&D's new 2024 Player's Handbook will have 10 species to choose from including goliaths, and drow will be closer to their Baldur's Gate 3 version
Филиал № 4 ОСФР по Москве и Московской области информирует:
Родители 240,5 тыс. детей в Московской области получают единое пособие
На фестивале «Таврида.АРТ» представят стенд Ямала
Филиал № 4 ОСФР по Москве и Московской области информирует:
С начала 2024 года 140 тысяч женщин и новорожденных Московского региона получили услуги по родовым сертификатам