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Coal India workers on 1 day strike for higher bonus

Coal India workers on 1 day strike for higher bonus
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First Published: Mon, Oct 10 2011. 02 41 PM IST

Indian coal miners work in a mine at Godavarikhani, some 250 kilometers east of Hyderabad. Photo: AFP
Indian coal miners work in a mine at Godavarikhani, some 250 kilometers east of Hyderabad. Photo: AFP
Updated: Mon, Oct 10 2011. 02 41 PM IST
Mumbai: More than 300,000 workers at state-run Coal India, the world’s largest coal miner, have gone on a one-day strike demanding higher annual bonus, senior company and union officials said on Monday.
The strike hit operations of the company that produces about one million tonnes of coal a day, one official told the news agency. Exact details of loss of output were not immediately available, the official, who did not want to be identified, said.
Indian coal miners work in a mine at Godavarikhani, some 250 kilometers east of Hyderabad. Photo: AFP
Five recognized unions, which represent most of Coal India’s 330,000 workers, had earlier given notice for the one-day strike, asking for a minimum bonus of Rs 25,000 ($508).
Coal India has offered an annual bonus of Rs 17,000 per worker.
“It was a trailer. We may go for stronger protest in the future,” Hemanta Kumar Pradhan, secretary at the Indian National Mineworkers Federation (INMF), one of the unions, told the news agency from the eastern Orissa state.
The miner is separately in wage negotiations with the unions, and is likely to make a provision for Rs 25 billion this fiscal year for a likely wage increase, a senior finance official had said earlier.
Kolkata-based Coal India, which accounts for 80% of coal production in energy-hungry India, reported a 64% rise in its June quarter net profit, but has said it may miss production target this year due to delays in environmental clearances at some of its mines.
At 1:55 pm, Coal India shares, valued at $43.4 billion, were trading 0.4% higher at Rs 338.95, in a Mumbai market up 1.5%.
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First Published: Mon, Oct 10 2011. 02 41 PM IST