TORONTO, Jan. 31 /CNW/ - Vale is pleased to announce that a new
five-year collective agreement has been ratified by the United
Steelworkers (USW) Local 9508 representing mine and mill operations
employees at Voisey's Bay, Labrador. The settlement marks the end of
the strike that began August 1, 2009.
Highlights of the new five-year agreement include improvements to
employee wages and the Defined Contribution Pension Plan, a
cost-of-living allowance roll-in and changes to the employee bonus
program. The agreement also includes a special $2000 Return to Work
payment and an additional $2000 Retention Bonus payable three months
following ratification of the new Collective Agreement.
"We are very pleased that our mine and mill operations employees have
ratified the new Collective Agreement and we look forward to their
return to work and the resumption of normal operations," said Tom
Paddon, General Manager of Vale's operations in Newfoundland and
Labrador. "It has been a very long and challenging time for everyone
involved and we are pleased that that the strike is finally behind us,"
Now that the Agreement has been ratified, Vale aims to get its employees
back to work as quickly as possible. Employees will be brought back to
the Voisey's Bay site within seven weeks following the completion of
training and reorientation sessions that will take place in Happy
SOURCE Vale Limited
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