The worker's union had threatened on Thursday to stop work on Saturday, alleging an impasse in negotiation with the directors of Minera Panama.
, and we have complied with the corresponding deadlines,” union leader Michael Camacho said early Saturday in a video sent to Reuters. “There is no strike,” he stated later.“This agreement has been possible thanks to the collaboration, open dialogue and shared commitment to the collective wellbeing of our collaborators,” the statement said, without disclosing further details.
Cobre Panama, a huge open-pit copper project located in the Panama jungle, is First Quantum’s flagship operation, accounting for nearly half of its earnings. It also accounts for about 4% of Panama’s gross domestic product. “We have successfully obtained all the clauses that were presented in this new project,” Camacho said.
He added that a salary increase had been agreed upon, but did not specify the amount, as well as several bonuses and improvements in retirement benefits.In a statement Thursday, the workers said there were disagreements over profit sharing and wage increases, and that the company was proposing an incentive instead of benefits, which would not be included in the collective bargaining agreement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Strike looms at First Quantum’s copper mine in Panama on impasse in wage talksThe negotiation remained stuck on disagreements over profit sharing and salary increase.
Read more »
Harnessing the Void: MIT Controls Quantum Randomness For the First TimeGroundbreaking study demonstrates control over quantum fluctuations, unlocking potential for probabilistic computing and ultra-precise field sensing. A team of researchers from the Massachusetts Institute of Technology (MIT) has achieved a milestone in quantum technologies, demonstrating for the
Read more »
Experimental quantum imaging distillation with undetected lightIt is possible to image an object with an induced coherence effect by making use of photon pairs to gain information on the item of interest—without detecting the light probing it. While one photon illuminates the object, its partner alone is detected, thereby preventing the measurements of coincidence events to reveal information of the sought after object. This method can be made resilient to noise, as well.
Read more »
Machine learning contributes to better quantum error correctionResearchers have used machine learning to perform error correction for quantum computers -- a crucial step for making these devices practical -- using an autonomous correction system that despite being approximate, can efficiently determine how best to make the necessary corrections.
Read more »
Tiny Bank Called Republic First Faces Test of Depositors’ FaithUnlike First Republic, Republic First’s customers have stayed loyal despite a battered balance sheet.
Read more »
One key thing to know about every Week 1 NFL gameThe first weekend ends Monday night with Aaron Rodgers’s first Jets game.
Read more »