BHP (BHP) and unions representing workers at the mining company's Port Hedland iron ore operations in Western Australia ended negotiations without reaching an agreement on a four-year employment deal, Reuters reported Tuesday.

BHP is offering most workers a 17% pay increase over the four-year term of the proposed agreement as well as a transition payment of 25,000 Australian dollars ($18,038) to be paid over two years and higher roster allowances, the report said, citing the company.

The three unions comprising the Combined BHP Ports Unions rejected BHP's revised proposal, according to Reuters, as the Electrical Trades Union Western Australia said the proposal would leave about 40% of the workforce worse off.

The parties are scheduled to resume negotiations next Tuesday, Sept. 15, with the talks to be facilitated by Australia's Fair Work Commission.

BHP did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)