Vale refuses to pay bonuses to striking Mozambique mine workers

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (NYSE:VALE) says it will not pay bonuses demanded by its workers now on strike at the company's Moatize coal plant in Mozambique.

Workers downed tools on Friday demanding two bonuses, even though Vale increased the salaries of its workers by as much as 9% in 2016 and raised salaries 15.6% this year.

Vale says the Moatize mine produced 5.5M metric tons of metallurgical and thermal coal in 2016.

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