SLX - Rio Tinto Scrambles to Avoid Repeat Strike at Mongolian Mine: Report | Benzinga
Rio Tinto Group (NYSE:RIO) is reportedly in negotiations with workers at its Oyu Tolgoi copper operations in Mongolia to prevent further industrial action.
The move follows a previous strike in May, prompted by a significant wage reduction, reported Reuters.
Notably, changes to Mongolia’s Labor Law, effective from the beginning of 2022, led Rio Tinto to recalculate employee allowances.
According to the non-governmental organization OT Watch, which is in contact with the mine workers, wages have decreased by up to 80%.
OT Watch Director Sukhgerel Dugersuren told Reuters, “A request to start negotiations was sent and OT is to reply by July 5, 2024. Another strike is possible if 70% of key demands on wages and 50% of other demands are not met.”
“The ...