BHP, unions fail to reach wage deal at Port Hedland

BHP and unions representing workers at its Port Hedland iron ore operations in Western Australia have failed to reach an agreement on a new wage deal. The parties are scheduled to meet again on August 25.

The union stated that BHP's proposal did not adequately address the concerns of the workers, whose labor contributed to the company's $13.20 billion profit. BHP announced these better-than-expected full-year earnings and its highest annual dividend in four years on the same day the wage negotiations concluded without a deal.

Some BHP workers at Port Hedland, the world's largest iron ore export hub, staged a second planned stoppage earlier this month, marking the first major industrial action at the site in 25 years. BHP CEO Brandon Craig, however, indicated that he did not expect the industrial action to impact the company's performance.