The other 1,500 Steelworkers at the IOC mine in turn accepted the final offer presented to them to renew their collective agreement.
The first cohort of 400 workers from Sept-Îles, members of another local section of the Steelworkers union, affiliated with the FTQ, also endorsed it last Sunday.
Now, the 1,500 union members of the mine in Labrador City have in turn ratified the draft employment contract in a proportion of 87%.
The Steelworkers union said the new collective agreement provides for an 8.9% salary increase in the first year, in addition to a $2,500 bonus upon signing the employment contract.
For the second year of the contract, a salary increase of 2.2% is planned and for the third year an increase of 2.75%.
In addition, a so-called flexibility premium goes from $1.25 per hour to $2 per hour.
The mining management was also pleased with the favorable conclusion: “We are pleased that the new collective agreements have been ratified by our employees. Over the past five months, our negotiating teams have worked together productively to secure contracts that are fair, competitive and will support the future of our business. »
“It allows us to watch over our people and demonstrates what is possible when an organization works openly and honestly with the union representatives of its employees,” commented IOC President and CEO Mike McCann.
The miner confirmed that the collective agreements, “which will come into effect retroactively on March 1, 2023, provide for higher wages, enhanced pension plans and better benefits for employees”.
