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BHP Billiton Limited (ASX:BHP) has again expressed growing concern over the possible strike of tugboat workers at Australia’s largest port, Port Hedland in Western Australia.
The global miner is the world’s third largest iron ore exporter and already feeling the pinch with the price of the steel making commodity sinking to a 20-month low below $US100 per tonne.
BHP’s iron ore chief Jimmy Wilson has warned industrial action at the port would have severe consequences for all Australian exporters and is against Australia's overall national interests.
Should members of the Maritime Union of Australia proceed with a strike BHP believes it will stop all shipments out of the port.
BHP estimates costs to exports would affect companies such as BHP, Fortescue Metals Group Limited (ASX:FMG) and Atlas Iron Limited (ASX:AGO) to the tune of $100 million per day.
BHP says the Maritime Union of Australia is pursuing an unacceptably high salary rise of almost 10 per cent per year and an increase in annual leave without any link to improve productivity.
BHP Billiton reported a net profit of $9.9 billion in the first half of the 2014 financial year.
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