A workers strike has halted iron ore operations at the San Isidro mine and processing plant owned by Venezuela's sole iron ore producer, CVG Ferrominera Orinoco, or FMO, plant sources said Wednesday.
The sources said the strike started Monday, with workers demanding a recalculation of wages.
The union Sintraferrominera is said to be leading the stoppage, and negotiations are ongoing, the sources said.
"Besides the salary issue, workers complain about security issues in FMO's iron ore plants, plus lack of equipment maintenance," one source said.
Besides San Isidro, FMO holds four other mines and processing plants, located in Cerro Bolivar, Altamira, Las Pailas and Los Barrancos.
FMO declined to comment.
FMO recently said it may increase its annual iron ore production capacity as much as 60% within four years, to 40 million mt from 25 million mt, due to logistical benefits from planned railway construction.
Based in Puerto Ordaz, Bolivar state, FMO supplies ore to all of Venezuela's steelmakers and hot-briquetted iron producers and, depending on its production and domestic demand, allocates product for export.
Source: Platts
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