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Noranda and Union agree to new three-year contract

By Alan Fein - Senior Staff Reporter

Age Canada Old Pension The United Steel Workers of America Local 6887 voted 83% in favor of a new three-year employment contract at Noranda's Montreal-East Quebec CCR copper refinery.Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our mining poll too!

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Hancock John Pension June 1, 2004 (AXcess News) Montreal - The United Steel Workers of America Local 6887 voted 83% in favor of a new three-year employment contract at Noranda, Inc. (NYSE: NRD) Montreal-East Quebec CCR copper refinery.Under the terms of the agreement, Noranda will up the pay of its union workers $0.55 the first year and an additional $0.50 each year thereafter. Additionally, Noranda is to enhance and modify pension and benefit programs.

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Pension Widow In return, Noranda asked for better qualified employees when filling job vacancies.

Employees of the life insurance company Standard Life are said to be reluctant to agree on new proposals that could reduce the size of the pension that they can enjoy. Apparently, over 7, 000 staff at the insurance company is in on the negotiations. Standard Life wants their employees to take a pension scheme that is based on their average salary as opposed to their salary at retirement . Previously, the proposals have been greeted with strong criticism.

Fund Pension In a statement released Sunday, Claude Ferron, General Manager for the Noranda CCR copper refinery said, "Both parties worked hard to agree on changes to improve the operation's overall competitive position and to ensure its viability in the future."

by Voanews President Bush has defended his new proposal to cut some retirement benefits as part of his reform of the U.S. pension program, Social Security. If you would like to receive late breaking news on issues covered by AXcess News then you need to subscribe.Print This Page April 30, 2005 (AXcess News) President Bush has defended his new proposal to cut some retirement benefits as part of his reform of the U.S. pension program, Social Security.

Investment Pension Noranda's Canadian Copper Refinery ("CCR"), located in Montreal-East, Quebec, refines anode copper from Noranda's Horne and Altonorte smelters, as well as other unrefined copper and precious metals from Noranda and third party sources. In 2003, CCR produced 235,000 tons of copper cathodes, approximately 1.1 million ounces Advertisement

Canadian Pension Plan of gold, 30.3 million ounces of silver and other by-products, including selenium, tellurium, copper sulphate, nickel sulphate and a concentrate of platinum group metals.

Department Pension Work AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

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