CANBERA (dpa-AFX) - Mining giant BHP Group Ltd. (BHP, BHP.L, BHP.AX) is continuing its talks with unions representing workers at its Port Hedland iron ore operations in Western Australia to reach terms of a four-year agreement, reports said.
The latest talks ended without a deal after the three unions of the Combined BHP Ports Unions rejected a revised four-year enterprise agreement offer.
Further ?labor negotiations between the company and the unions are scheduled for next week, the parties reportedly said. The negotoations over the wage deal have been facilitated by Australia's workplace regulator, the Fair Work Commission.
BHP and the unions have been in negotiations for the past few months to conclude the work agreement.
BHP reportedly offers, for most workers, a 17 percent pay increase over the four years of the agreement, and a transition payment of A$25,000 paid over two years. They will also get an increase to roster allowances.
The company said, 'Today we tabled a strong, updated proposal that is a significant step towards delivering a fair and reasonable agreement for our port workers.'
Meanwhile, the unions rejected the proposal, stating that the offer leaves about 40 percent of the workforce in a worse position and keeps wage inequalities alive.
Citing the around $13 billion underlying attributable profit of the company for fiscal 2026, the unions argue that the employees deserve better pay and protections to match extreme remote heat, long hours, and time away from families.
Port Hedland is the world's largest iron ore loading port, and BHP ships some $80 million worth of iron ore daily through the facility.
In London, BHP shares were trading at 3,390.00 pence, up 0.89 percent.
In pre-market activity on the NYSE, the shares were trading 1.21 percent higher, at $91.50.
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