By Reuters Staff
2 Min Read
SAO PAULO (Reuters) - Brazilian miner Vale said in a securities filing on Tuesday it will suspend operations at its Sudbury, Canada nickel mine, after its proposal for a five-year contract was rejected by the United Steelworkers union.
United Steelworkers Local 6500, which represents 2,600 workers at the mine, said in a statement that 70% of those who voted were opposed to the Vale offer and wanted the union - whose bargaining committee had recommended the preliminary deal - to return to the bargaining table.
“What we have is a clear message from our membership that our bargaining team . has taken back to the company,” said Kevin Boyd, vice president at USW Local 6500, adding that talks are ongoing.
Australian shares closed flat on Thursday, as gains in mining and tech stocks eclipsed losses in gold names, while investors remained cautious ahead of key U.S. inflation data.
Australian mining magnate Andrew Forrest's Wyloo Metals said on Tuesday it would launch an unsolicited bid for the shares in nickel-copper miner Noront Resources it does not already own, an offer valuing the company at C$133 million (US$110 million).
By Reuters Staff
3 Min Read
BEIJING (Reuters) -China will strengthen price controls on iron ore, copper, corn and other major commodities in its 14th five-year plan for 2021 to 2025 to address abnormal fluctuations in prices, the state planner said on Tuesday.
FILE PHOTO: An employee monitors molten iron being poured into a container at a steel plant in Hefei, Anhui province September 9, 2013. REUTERS/Stringer
The country will also step up monitoring and analysis of commodity prices such as crude oil, natural gas and soybean, the National Development and Reform Commission (NDRC) said in a statement.
“(Local governments) should study and judge the import impact in depth, promptly make suggestions. (on matters) such as reserves, import and export, fiscal and taxation, and financial adjustment measures,” the statement said.