By Ben Glickman
Newmont Corp. has reached a preliminary agreement with the National Union of Mine, Metal and Allied Workers of the Mexican Republic that could end a monthslong strike at one of its mines.
The Denver-based metal-mining company has suspended operations at its Minera Peñasquito in Zacatecas, Mexico, since early June, when the union moved to strike due to negotiations over a collective bargaining agreement.
Newmont said Friday that the preliminary agreement was ratified by the union Thursday, and the parties would form a definitive agreement subject to approval in the coming days. Newmont said it anticipated the strike ending in the coming days.
An end to the strike would allow the company to ramp up operations at the mine, which produces gold, silver, lead and zinc.
Newmont previously said the union was looking to increase the profit-sharing provided for by the collective bargaining agreement. The company didn’t give the terms of the preliminary deal.
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