Vancouver – With the help of a mediator, Teck Cominco (TCK.B-T, TCK-N) and Local 7619 of the United Steel Workers of America reached a last minute, tentative collective agreement to avert strike action at the Highland Valley copper mine located about 60 km southwest of Kamloops, British Columbia.
Strike notice was recently served by the union representing more than 800 workers at the massive open pit operation that produced 179,000 tonnes (395 million lbs.) of copper and 6.3 million lbs. of molybdenum in 2005. The mine generated record operating profit of $613 million for Teck Cominco in 2005, largely due to soaring copper prices and increased metal output.
The previous labour agreement expired on midnight of September 30 with 99.8% of union members voting in favour of strike action. Terms of the new five-year agreement have not been released pending ratification by workers.
Operations at the mine had been shut down in anticipation of labour unrest but are expected to be restored in about three days.
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