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CSN's Brazil iron ore mines hit by strike action

Published 09/07/2018, 04:31 PM
Updated 09/07/2018, 04:31 PM
© Reuters.  CSN's Brazil iron ore mines hit by strike action

© Reuters. CSN's Brazil iron ore mines hit by strike action

  • Workers at Brazil's Companhia Siderurgica Nacional (NYSE:SID), the country's second largest iron ore exporter, are taking strike action after rejecting the company's proposal for a collective agreement on salaries and benefits, according to the local trade union.
  • The Sindicato Metabase Inconfidentes union wants CSN to increase salaries and worker benefits, particularly considering the company's rising sales and profits; Q1 production of 6.7M metric tons rose 9% Q/Q while sales also rose 9% to 8.1M tons.
  • The strike will affect the Casa de Pedra and Pires iron ore mines in Minas Gerais state.
  • Now read: CSN: Can You Deleverage A Brazilian Steel Producer?


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