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Maritime Union of Australia to Suspend Action for 30 Days
May. 22, 2014 07:33AM PST
Base Metals Investing Reuters reported that the Maritime Union of Australia, which represents tugboat workers at a major iron ore port, has agreed to suspend its plans to strike for one month. According to Reuters, miners BHP Billiton (ASX:BHP) and Fortescue Metals Group (ASX:FMG) have been trying to avert the strike, calling on the Australian government to halt the action due to its potential impact on the country’s economy.
Reuters reported that the Maritime Union of Australia, which represents tugboat workers at a major iron ore port, has agreed to suspend its plans to strike for one month. According to Reuters, miners BHP Billiton (ASX:BHP) and Fortescue Metals Group (ASX:FMG) have been trying to avert the strike, calling on the Australian government to halt the action due to its potential impact on the country’s economy.
As quoted in the market news:
The MUA said on Thursday it would hold off industrial action for 30 days but would seek a 30-day extension on an existing approval for a possible strike to allow more time for talks with the tugboat operator, Teekay Shipping.