LABOUR UNREST: Contract talks between Vale and Voisey’s Bay union stall

LABRADOR - Readers who breathed a sigh of relief when Vale of Rio de Janeiro and members of Steelworkers Local 6500 settled the year-long strike in Sudbury and Port Colborne, ON, are reminded that 130 mine and mill workers are still on strike at Vale's Voisey's Bay nickel-cobalt mine near Nain. The strike began on Aug 1, 2009.

The two sides resumed talking on Oct. 2, but talks broke off on Monday despite efforts of a provincial mediator. No further talks are scheduled.

Meanwhile, Vale has signed a long-term financing agreement with Canada's Export Development Bank for the financing of its capital expenditure program related to Canadian export projects and future Canadian procurement opportunities at Vale projects. The EDC will provide credit lines up to US$1 billion. Half the amount will be available for operations in Canada and up to US$250 million each for development of the Long Harbor nickel refinery in Newfoundland and Labrador and for financing new projects in Ontario.

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