January 12, 2016

The direct-settlement period with Sintracarbón begins

The bargaining committees for management and Sintracarbón today signed the Memorandum of Agreement setting the general conditions and the guarantees for the trade union representatives to participate in this process. Wednesday, January 13, was set for the start of the direct-settlement stage, which shall last until February 1 and could be extended for an additional 20 calendar days.

The signing of this memorandum confirms the good faith of both parties to undertake the negotiations and their commitment to reach a new collective bargaining agreement in the midst of the crisis in the coal sector demanding increases in efficiency and productivity to ensure the company’s sustainability.

By signing this memorandum, the parties express their willingness to undertake this process with the responsibility, transparency, and commitment that the company currently needs for the firm’s viability and the welfare of our workers, their families, and of La Guajira.