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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: koan	2/4/2007 4:42:24 PM
	of 78428

CAW ratifies three-year deal with Xstrata Nickel by 87 per cent vote 2007-02-02 22:55:00 SUDBURY, Ont. (CP) - Xstrata Nickel employees at CAW Local 598, representing production and maintenance workers at the company's Sudbury operations, ratified a three-year collective agreement on Friday. Workers voted 87 per cent in favour of the agreement which expires Jan. 31, 2010, Xstrata said in a release. The agreement includes wage increases of 60 cents per hour in the first year, 20 cents per hour in the second year and 20 cents per hour in the third year, plus cost of living allowance increases in all three years. The 1,000 employees will also get $8,000 signing bonuses and improved benefits. The CAW said the average worker currently makes between $28 and $30 an hour plus a so-called "nickel bonus" of between $6 and $8 that is adjusted according to the commodity price. "We believe the new agreement is fair and balances the needs of the company with those of employees," said Mike Romaniuk, vice-president of Xstrata Nickel's Sudbury operations. "We can now look forward to working together to pursue our business goals in Sudbury." It was the first contract negotiation for the CAW since the company, formerly called Falconbridge, was acquired last year by Anglo-Swiss mining giant Xstrata PLC. Xstrata PLC is a major global diversified mining group headquartered in Zug, Switzerland. Xstrata Nickel is headquartered in Toronto and has mining operations in Ontario and Quebec.

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