New collective agreement for Raglan workers

Last week, Falconbridge Ltd. and the United Steelworkers of America reached a tentative agreement to renew the collective agreement of workers at Nunavik’s Raglan Mine.

A news release from the company says it is expected that employees will vote on the agreement by May 26. Both the company and union bargaining teams are unanimously recommending the tentative agreement.

Details of the agreement will be released once it has been ratified.

Shares in Falconbridge rose about two per cent Friday after the deal with the union was announced.

In Friday’s trading on the Toronto stock market, the company’s shares were up 71 cents, or 1.6 per cent, at $44.83.