Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Labrador Iron Ore says workers reject IOC labor agreement

Published 18/04/2018, 11:55 pm
Updated 19/04/2018, 12:00 am
© Reuters.  Labrador Iron Ore says workers reject IOC labor agreement

© Reuters. Labrador Iron Ore says workers reject IOC labor agreement

April 18 (Reuters) - Workers on strike at a mine operated by Iron Ore Company of Canada (IOC) rejected a new labor agreement, minor stakeholder Labrador Iron Ore Royalty Corp LIF.TO said on Wednesday.

Shares of Labrador Iron Ore, which has a 15 percent stake in the company, fell 5 percent.

Some 1,300 unionized workers walked off the job at the Labrador City mine in Eastern Canada on March 27 after rejecting IOC's final contract offer.

IOC is majority owned by Anglo-Australian miner Rio Tinto RIO.AX RIO.L , with Japan's Mitsubishi 8058.T holding a 26-percent stake.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.