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BHP workers halt strike at South32-bound mines

Shareholders to vote in May on the unbundling plan.
BHP Billiton Ltd. reached an agreement with the largest union at its Hotazel manganese mines in South Africa, ending a 12-day strike over bonus payments.
 
“This agreement means that all employees should report for duty starting from Wednesday 8th April,” the company said in an e-mailed statement.

BHP and the National Union of Mineworkers will hold more talks over the dispute, it said. NUM members walked out on March 27 over claims BHP owed payments under share ownership programs concluded in 2007 and 2012, the company said April 2.

The strike ends before a planned spinoff of the manganese mines in South Africa’s Northern Cape province into a new company called South32 Ltd. BHP’s shareholders will vote May 6 on the plan to unbundle 12 assets or ventures in five countries to South32. The demerger would see BHP relinquish all of its South African holdings, including coal and aluminum assets.

©2015 Bloomberg News

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