Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (38401)	6/10/2009 8:30:41 PM
From: LoneClone	Read Replies (1) \| Respond to of 194043

Labor talks stalled at Vale Canada nickel mine miningweekly.com By: Reuters 10th June 2009 TORONTO - Labor negotiations at Vale's Voisey's Bay nickel and copper mine in Eastern Canada appear to be making little progress, despite three months having passed since the contract expired, officials on both sides agreed on Tuesday. "It's a fair characterization we seem to find ourselves at an impasse," said Cory McPhee, a spokesman for Brazil's Vale, which acquired Voisey's Bay when it bought Sudbury, Ontario, nickel miner Inco in 2006. Boyd Bussey, a negotiator for the United Steelworkers, which represents workers at the mine, said the union called in a provincial conciliator last month after a lack of progress in discussions. The previous contract expired on March 31. He said the two sides are far apart on wages, contract language, and the maintenance of a bonus workers receive that is based on the price of nickel. "They refused to give us any of our language demands, they put... a three-year freeze on wages and a entirely convoluted new bonus," said Bussey, whose bargaining unit represents 135 production and maintenance workers. The so-called "nickel bonus" was a key issue in a two-month strike at Voisey's Bay in 2006. When nickel prices pushed to record highs in 2007, the bonus gave a sharp boost to workers' pay packages at Voisey's and at Vale's main Canadian operations in Sudbury. Bringing in the provincial conciliator means the union could soon be in a position to legally strike, although Bussey said that is not being considered yet. In contrast to 2006, when nickel was on an upswing towards an eventual peak around $24 a pound, the metal is currently trading around $6.60 a pound, giving the union much less leverage. Voisey's is already scheduled to shut for the month of July, a move Vale announced earlier this year due to weak nickel demand. Voisey's Bay produced 77 500 t of contained nickel and 55 400 t of contained copper in 2008, but it plans to lower nickel output to an average 55 000 t over the next four years. The company is also in the midst of negotiating with the USW on its main labor contract at Sudbury. The two sides agreed recently to extend the current contract to mid-July, as the Sudbury operations have also been suspended, and will not restart until the end of July.