Colombian mine workers at Cerrejon have agreed to a compromise on pay. Cerrejon is owned collectively by BHP Billiton, Xstrata and Anglo American and is the largest coal exporting mine in Colombia.
Cerrejon saw its coal production drop during the industrial dispute.
The mine workers had been holding out for a 7% hike in the salary while the company finally offered a 6.5% hike at the last moment on Friday at a meeting with the union. The president of Sintracarbon, the Cerrejon union, Igor Diaz said that the workers had decided to accept the last offer of the management and an agreement was now being drafted. It would be signed on Tuesday.
The company which is a joint venture with the three mining giants is expected to produce 32 million tonnes of coal in 2011. It has already produced an average of 90,000 tonnes of coal per day for the month of January. Cerrejon contributes greatly to Colombian coal exports which reached 76 million tonnes of coal in 2010. The nation is hoping that coal exports will reach 90 million tonnes in 2011.