LABOUR CONTRACT: Voisey’s Bay agreement ratified

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, NL.  The settlement marks the end of the strike that began Aug. 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 $2,000 return to work payment and an additional $2,000 retention bonus payable three months following ratification of the new collective agreement.  

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 Valley-Goose Bay.