Workers at Grange Resources' Port Latta iron ore facility in Tasmania have voted to go on strike, leading to potential disruptions in production.
The strike was initiated by over 200 unionized workers from the Australian Workers Union and the Communications Electrical Plumbing Union, who are demanding higher wages to account for the increased cost of living.
Grange Resources recently conducted significant maintenance work at the plant, and the unions' actions could result in rolling stoppages across the site.
The company had aimed to sustain production at around 2.5-2.6 million tons in 2023 but faced declining production and sales figures in recent years.
Additionally, Grange is reviewing its Southdown magnetite project and plans to acquire full ownership of the venture, anticipating greater demand for high-grade iron ore despite weaker prices and rising costs.
The revised project aims for an annual production of 5 million tons, down from the original plan of 10 million tons.