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AAL Anglo American Plc

2,346.00
-16.50 (-0.70%)
Last Updated: 08:25:50
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Anglo American Plc LSE:AAL London Ordinary Share GB00B1XZS820 ORD USD0.54945
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -16.50 -0.70% 2,346.00 2,345.00 2,346.00 2,370.00 2,343.00 2,370.00 42,917 08:25:50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 30.84B 283M 0.2116 111.65 31.6B

Workers At Colombia's Cerrejon Coal Mine Vote For Strike

27/01/2011 4:50pm

Dow Jones News


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Union workers at Cerrejon LLC, Colombia's largest coal exporter, voted in favor of a strike Thursday as negotiations with the company regarding salary increases remain stalled.

The polling results showed that 2,935 union members participated in the voting and that 2,829 workers voted in favor of striking. A walkout could start as early as Sunday and as late as Feb. 5, Jose Brito, a union official, said before the official results were announced. The results still need to be ratified by a union assembly Saturday.

A strike at Cerrejon, equally owned by mining giants Xstrata PLC (XTA.LN), Anglo American PLC (AAUKY, AAL.LN) and BHP Billiton (BHP, BHP.AU), could cripple Colombia's coal exports. Colombia ranks as one of the world's top coal producers, with output at 76 million tons in 2010. Mines and Energy Minister Carlos Rodado said Jan. 14 that coal production for this year is expected to reach 96 million tons.

Leon Teicher, Cerrejon's president, said in a Jan. 20 interview with local newspaper Portafolio that the company produced 30.2 million tons of coal in 2010 and used its stock reserves to raise its exports to 31.4 million tons of coal. The company plans to export 32 million tons of coal in 2011, Teicher said.

-By Darcy Crowe, Dow Jones Newswires; 57-314-298-3277; darcy.crowe@dowjones.com

 
 

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