Workers at Cameco’s McArthur River mine nad Key Lake mill in Northern Saskatchewan have ratified a new four year contract.
It expires at the end of 2017 and provides a 12% wage increase over the life of the contract.
Work at the two mines actually resumed in mid September after the tentative deal was reached.
Cameco spokesman Rob Gereghty says the new contract offers some long term stability for the both the company and its workers.
“We are pleased that the unionized work force at Key Lake and McArthur river have accepted this new four year agreement. The agreement provides an extended period of stability for our unionized work force, our customers and our investors.”
535 workers, members of the United Steelworkers of America work at the two mine sites.
They were locked out August 30th three days after serving strike notice and a tentative contract deal was reached on September the 12th.
That deal has now been approved by both sides.
Gereghty says the work disruption will not have an impact on meeting customer obligations.
As for production targets, those will be revealed when third quarter results are announced October 29th.