Xstrata, Sudbury Staff Reach Accord to Avoid Strike (Update1)

http://www.fxfxfx.com 2010-02-02 16:34:59
Xstrata Plc, the world’s fifth- largest nickel producer, reached an agreement with the Canadian labor union at its mine, mill and smelter operation in Sudbury, Ontario, to head off the threat of a strike.

The company and Canadian Auto Workers union Local 598, representing production and maintenance employees, reached a “tentative agreement,” Xstrata said in a statement today.

The prior three-year contract agreed to between the union and company expired at midnight and workers voted last month to strike unless a fresh accord was reached. The two sides began talks on job security, pensions and bonuses Dec. 16.

“The union’s bargaining team has recommended acceptance of the new agreement,” Xstrata said. Members will vote for ratification of the agreement “early this week,” it said.

About 3,300 of almost 4,600 workers at Vale SA’s Sudbury nickel and copper mine have been on strike since July 13 after talks broke down over a labor contract, making it the longest staff walkout in the company’s 67-year history.

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