Eramet produces first lithium from Centenario plant in Argentina
Eramet becomes the first European company to produce lithium carbonate at an industrial scale.
Workers at Peñaquito, Mexico’s largest gold mine, accepted a proposal from operator Newmont (NYSE: NEM) (TSX: NGT) late on Thursday, ending a four-month-long strike that cost the miner millions of dollars a day.
Peñasquito workers will receive a 8% pay increase for each shift, effective retroactively to Aug. 1, the union said in a statement. Each of the nearly 2,000 unionized workers will also get an equal share of the 152 million Mexican pesos ($8.3 million) bonus given by Newmont.
The union had also demanded a larger share of the mine’s profit, from the 10% agreed on in 2022 to 20%. This dispute, the union said, will be decided by Mexico’s tax agency, while workers get 10% of profits for 2023 as long as the company sees a net income gain.
Newmont, the world’s largest gold producer, declared force majeure in June on the mine deliveries. It said in September the dispute was costing it nearly $1 million a day in maintenance costs and $2.7 million a day in lost revenue.
The mine, located in the centre-north state of Zacatecas, is a major supplier of gold and silver and also produces zinc and lead.
The fourth-month long strike was the third labour dispute at Peñasquito since Newmont acquired it through its merger with Goldcorp Inc. in 2019.
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Wemin Kom
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