Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (84617)	8/23/2011 9:28:20 PM
From: LoneClone	Read Replies (1) \| Respond to of 193970

UPDATE 1-Iberian Minerals says Spain mine workers begin strike reuters.com Mon Aug 22, 2011 10:07am EDT * Trade unions mandated a two day per week rolling strike action * Says expects next work stoppage to occur on Sunday & Tuesday next week (Follows alerts) Aug 22 (Reuters) - Canada's Iberian Minerals Corp said workers at its Aguas Tenidas mine in Spain had begun a strike, after wage negotiations with trade unions failed. "In the current economic climate, the unions' demand for what amounts to a 37 percent aggregate increase in salaries and benefits is both unfair and entirely unrealistic," Chief Executive Daniel Vanin said. The base metals company, with interests in Spain and Peru, said the two unions involved have demanded a two-day per week rolling strike action, which began on Sunday. Both the mine and plant were shut down, and operations are expected to resume on Tuesday. In the absence of a new labour contract settlement, the company expects that the next work stoppage to occur on the same days next week and beyond. Expenditures during the shut downs will be kept at a minimum, with the plant and mine on care and maintenance, Iberian said in a statement. Shares of the Toronto-based company were trading down about 5 percent at 85 Canadian cents on Monday morning on the Toronto Venture Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Saumyadeb Chakrabarty)