NEW YORK First
Nickel Inc. has reached a new four-year labor agreement with
workers at the companys Lockerby Mine in Ontario.
The agreement, which
covers 115 production and maintenance personnel, replaces the
previous labor agreement that was scheduled to expire July
The new deal was
ratified by union members July 9 with a 94-percent majority,
Mine Mill Local 598/CAW president Richard Paquin told
AMM. He said the union was happy with the deal and
glad a labor dispute was avoided.
The agreement includes
wage increases of 1 percent for 2013 and 2 percent each year
thereafter, as well as a signing bonus, vice president of
operations Mark Isto said.
Isto described the
ratification of the agreement as an important milestone for the
Lockerby Mine. "The operation faces considerable economic
pressures from low nickel prices and we feel the agreement
strikes a balance between the needs of both parties," he said
in a statement.
The Lockerby Mine
reached its full, targeted annualized production rate of 10
million pounds of payable nickel at the end of the first
amm.com, April 18).
The London Metal
Exchanges three-month nickel contract closed the official
session July 10 at $13,560 per tonne ($6.15 per pound).