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Industrial action at Kazakhmys mines is over

07 may 2012, 11:57
The industrial action at copper mines owned by Kazakhmys, a UK-registered copper mining company whose main assets are located in Kazakhstan, in the town of Satpayev is over, KazTag Agency reports.

According to the Company, by 20:00 local time on Sunday all the miners taking part in the underground strike had got out of the mine. May 7 they are to resume normal operations. “All the issues have been settled. There will be a substantial salary raise”, according to Kazakhmys Chairman of the Board Eduard Ogai.

"As a result of the negotiations, Kazakhmys top management has agreed to meet the key demands of the miners that they set forth in the collective letter filed earlier. This also includes a salary raise," the company' press-release says.

According to him, in case production targets are met the miners will be paid a salary of $2700 and up.

A total of 340 miners at three mines owned by Kazakhmys had refused to get out of the mine, demanding for a salary raise by 100%.

Established in 1930 and focused on copper production, Kazakhmys PLC is among the world's leading natural resources groups. The Company is based primarily in Kazakhstan, Central Asia, listed in London and Hong Kong, and is part of the FTSE 100 Index.

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