Copper edged lower on Wednesday as investors took some money off the table over worries about a dip in demand from top consumer China while a firmer dollar also sapped the metal's appeal.
Miners have gone on strike in Sudbury.
United Steelworkers Local 6500 members in Sudbury hit the picket lines this morning after rejecting Vale’s five-year collective bargaining offer yesterday.
The last time the workers were on strike was the year-long labour dispute that lasted from July 13, 2009, to July 8, 2010, and it was the longest strike in Canadian history.
The tentative deal which was rejected by the Local 6500 membership had been endorsed by the union’s bargaining committee, says the company in a press release
However, the union says 70 percent of members rejected the tentative deal, with an 87 percent voter turnout.
The union represents about 2,450 production and maintenance employees at Vale’s Sudbury operations.
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This will be a critical week as negotiators for Steelworkers Local 6500 and Vale try to work out a new contract by May 31.
That’s when the current labour contract expires.
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USW Local 6500 represents more than 2,500 production and maintenance workers in mining, milling, smelting and refining at Vale’s Sudbury operations.
Vale, with almost 4,000 workers, is Sudbury’s largest employer. In Sudbury, it operates five mines, a mill, a smelter and a refinery from one of the largest integrated mining complexes in the world. Sudbury products include nickel, copper, cobalt, platinum group metals, gold and silver.
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