Teck Resources Limited (“Teckâ€) announced today that the unionized employees at Cardinal River Operations have ratified a new five-year agreement commencing July 1, 2012 through June 30, 2017, replacing an agreement that expired on June 30, 2012.
“Discussions with the United Mineworkers of America Local 1656 were collaborative,†said Mark Brown, General Manager at Cardinal River Operations. “We are very pleased to have a new five-year agreement.â€
As a result of the new collective agreement at Cardinal River Operations, Teck expects to incur a one-time, after-tax charge to profit in the third quarter of approximately $4 million; $1 million of which will be a non-cash accrual.
“Discussions with the United Mineworkers of America Local 1656 were collaborative,†said Mark Brown, General Manager at Cardinal River Operations. “We are very pleased to have a new five-year agreement.â€
As a result of the new collective agreement at Cardinal River Operations, Teck expects to incur a one-time, after-tax charge to profit in the third quarter of approximately $4 million; $1 million of which will be a non-cash accrual.