Global iron ore export hub Group, Inc. Class A pay dispute remains unresolved! BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) Port Hedland workers to seek arbitration over pay agreement dispute.

Representing workers at BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs's (BHP.US) Port Hedland port facilities in Australia, the BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs Ports Combined Union said on Tuesday that workers will seek arbitration after the two sides failed to agree on the terms of a new pay agreement. It is understood that the BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs Ports Combined Union represents about 450 operators and maintenance workers at the Port Hedland port facilities. The union will apply for a "irreconcilable bargaining" determination, which would allow the regulator, the Fair Work Commission, to set the terms of the agreement for both parties. The union and BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs have been negotiating a four-year pay agreement for more than nine months. In recent months, the two sides have met almost weekly with the assistance of the regulator to determine the specific terms of the four-year pay agreement. The union said in a statement: "BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs is unwilling to negotiate an agreement that reflects these employees' professional skills, harsh working environment, and the enormous personal sacrifices they have made, and it is precisely these employees who generated more than A$13 billion in profit for the company this year." A BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs spokesperson responded: "Our focus remains on reaching a fair and reasonable agreement." The mining giant said its latest offer was made a week ago and added that continuing negotiations is the fastest way to reach an outcome. For most employees, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs has proposed a 17% pay increase over the four-year term of the agreement, including a A$25,000 (about US$17,800) transition payment to be paid over two years, as well as higher shift allowances. But the union believes that under this proposal, about 40% of employees would be worse off in real terms. The protracted tug-of-war between BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs and Port Hedland workers over pay could affect the global iron ore supply chain. Port Hedland is one of the world's largest iron ore loading ports and Australia's largest iron ore export port. The port connects to multiple BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs mines in the Pilbara region and handles all of its iron ore export business in Western Australia. Data shows that about A$80 million worth of BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs iron ore products are shipped through the port every day. Once operations at Port Hedland are disrupted, the economic losses could be considerable, while also putting pressure on the global iron ore supply chain. In August, workers at the port stopped work for two days, the first major industrial action at the port in 25 years. If negotiations between the two sides fail to make sustained progress, a potential strike could affect the daily operations of this Hub Group, Inc. Class A, the world's largest iron ore export hub.