Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The six-week strike at Teck’s Elkview coal mine is coming to an end, Canadian Press reported Tuesday morning.
The Vancouver company and Local 9346 of the United Steelworkers of America have reached a tentative five-year collective agreement covering about 700 workers at the mine, located in southeastern British Columbia.
The union ratification vote is to be completed by Saturday.
If the new labour deal is ratified, Teck expects full production at the mine to resume by next Tuesday.
No other terms of the agreement will be disclosed until the ratification vote is complete.
Unionized workers at Elkview went on strike in early February. The mine near Sparwood, B.C. is the second-largest of Teck’s six operating coal mines.
The United Steelworkers had served strike notice on Jan. 27.
