February 1, 2016

An extension of the direct settlement period was agreed to with Sintracarbón

The direct settlement stage ended as per the legal bargaining provisions. In this stage, the Sintracarbón committee supported the points in their list of demands and the management committee presented their offer in accordance with the operational and financial restrictions determined by the coal market conditions.

In order to have more time to continuing reviewing the issues of interest to both parties so a final agreement can be reached, the committees have decided to extend the direct settlement stage by 20 days, as allowed by legal provisions.

During the extension period of February 2 to 21, it is hoped that the committees will reach agreements on the list of demands and the lawsuit in order to enable the signing of the new collective bargaining agreement with Sintracarbón.