Labrador Iron Ore Royalty Corporation Provides an Update on IOC Labour Relations

TORONTO, May 29, 2018 /CNW/ - The Iron Ore Company of Canada (IOC) announced today (see attached Media Statement) that the USW Locals 5795 and 6731 in Labrador City have voted to accept the offer presented by IOC and union representatives. Voting by USW Local 9344 in Sept-Îles will take place on Monday and Tuesday, May 28 and 29, 2018.

Iron Ore Company of Canada – Agreement Reached in Labrador City 

28 May, 2018

IOC is pleased to advise that the USW locals 5795 and 6731 in Labrador City have voted today to accept the latest offer presented by management and union representatives. Voting for Sept- Iles will take place today and tomorrow, Tuesday, May 29^th. Results will be communicated as they become available. 

Following numerous discussions where the Union leaders outlined the priorities of the employees, IOC and USW locals in Labrador City reached an agreement that provides competitive terms and conditions for employees – such as improved pension and medical benefits and increased local employment hires while providing IOC with flexibility to be a sustainable and competitive business.

"We are pleased with the outcome of this new agreement and it highlights what we can accomplish when we work together on solutions," said Clayton Walker, President and CEO. "As we look ahead to safely returning to work, we will focus on listening to each other more and finding solutions together so that we can continue to build a stronger business for the future."

We will now prepare to implement our return to work plans with employees, safety remaining our highest priority.  

For further information, please contact:           

Media relations: 
Rio Tinto Canada
Claudine Gagnon
Tel.: [phone]
[e-mail]
Website: www.riotinto.com  

IOC Communications & External Relations
Heather Bruce-Veitch
Tel: [phone] ext 8677 
[e-mail]
Website: www.ironore.ca 

SOURCE Labrador Iron Ore Royalty Corporation

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