Nickel News
(posted by Condor)
Nickel workers strike at Inco's Voisey's Bay -union
Fri Jul 28, 2006 2:40am ET
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(Adds background, prices in paragraphs 6-9)
NEW YORK, July 28 (Reuters) - Unionized workers at Inco Ltd.'s (N.TO: Quote, Profile, Research) Voisey's Bay nickel mine in eastern Canada went on strike at midnight on Friday after talks with management broke down, a union representative said.
"They are on strike," said Wayne Fraser, an official at the United Steelworkers union, which represents about 120 workers at the mine and mill.
Total workforce at the site in Labrador is about 420.
Fraser told Reuters on Thursday that monetary issues were the stumbling blocks in the negotiations for a first labor contract at the operation.
Voisey's Bay started producing in September 2005 and is expected to produce 120 million pounds (54,000 tonnes) of nickel in concentrate in 2006.
An Inco spokesman was not available for comment.
Three-month nickel futures <MNI3> on the London Metal Exchange were $24,000 a tonne at 0602 GMT versus $23,750 on Thursday.
On Thursday inventories slipped to 4,674 tonnes, down 396 and their lowest since July 1991.
The strike comes as Inco nears a crucial deadline, with its offer for fellow Canadian miner Falconbridge Ltd. (FAL.TO: Quote, Profile, Research) due to expire at 0700 GMT on Friday.
today.reuters.com.
Condor
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