Drummond Coal Union Says Wage Talks Failed

“The extended negotiation stage has ended today without reaching a deal,” Sintramienergetica union says on website. *Deal could still be reached this evening, union negotiator Humberto Suarez says in phone interview from Santa Marta *Co. didn’t immediately reply to an e-mail and phone call outside normal business hours seeking comment *NOTE: Talks on wages, safety conditions started May 29, were scheduled to end June 17; negotiations extended to July 7 after parties failed to reach agreement *NOTE: Coal is Colombia’s biggest export after oil *NOTE: Workers at Cerrejon, Colombia’s biggest coal mine, went on strike for more than a month starting Feb. 7 after failing to reach wage agreement with management; Finance Ministry estimates strike cut 1Q GDP growth by 50bps

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