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RIO TINTO GROUP

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Rio Tinto : and Canadian union reach labour deal for British Columbia ops

09/26/2021 | 02:49pm EDT
FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia

(Reuters) - Rio Tinto and Canadian union Unifor have reached a labour agreement in principle for the global miner's operations in the western Canadian province of British Columbia, the company said on Sunday.

The agreement comes after weeks of second-round talks between the two parties after the first round of negotiations over proposed changes to workers' retirement benefits and unresolved grievances had failed to go through in July.

Unifor, which represents about 900 workers at the miner's aluminium smelting plant in Kitimat and power generating facility in Kemano, had started a strike action at BC Works in July after the failed first round of talks.

"Both parties are satisfied that the proposed agreement will provide a foundation for respect in the workplace and underpin a competitive and sustainable future for BC Works," Rio Tinto said in a statement on its website on Sunday.

Both parties, however, refrained from revealing the details of the agreement until Unifor presented the proposed deal to its members and sought a ratification vote, which is expected to be conducted in the coming days, Rio added.

(Reporting by Sameer Manekar in Bengaluru; Editing by Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO GROUP -0.91% 99.6 End-of-day quote.-12.50%
RIO TINTO PLC -1.43% 5038 Delayed Quote.-7.90%
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Financials (USD)
Sales 2021 63 250 M - -
Net income 2021 22 373 M - -
Net cash 2021 2 163 M - -
P/E ratio 2021 4,94x
Yield 2021 15,5%
Capitalization 114 B 114 B -
EV / Sales 2021 1,76x
EV / Sales 2022 2,21x
Nbr of Employees 47 500
Free-Float 65,3%
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Number of Analysts 23
Last Close Price 69,27 $
Average target price 75,80 $
Spread / Average Target 9,43%
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Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Simon Robert Thompson Chairman
Arnaud Soirat Chief Operating Officer
Megan Clark Independent Non-Executive Director
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