Proactive Investors - Workers at Taseko Mines (NYSE:TGB) Ltd (TSX:TKO)'s Gibraltar mine in British Columbia have ratified a new contract including a 13% pay increase ending a 17-day strike at the second-largest open-pit copper mine in Canada.
About 550 of the mine’s workers represented by union Unifor had been on strike since June 1.
Taseko Mines said on Wednesday that the union ratified the previously announced tentative agreement, which will be in place until May 31, 2027.
The new contract increases salaries by 13% over three years, introduces a Women’s Advocate and recognizes the federal labour code’s leave for Indigenous practices.
It also provides “clarity and fairness” to the drug testing incident procedure and improved transparency during the discipline process, the union highlighted.
"Unifor members in Williams Lake have successfully negotiated a collective agreement that reflects their important contribution to the success of Taseko," Unifor National president Lana Payne said in a statement.
Unifor Western regional director Gavin McGarrigle added: "Gibraltar mine is an economic powerhouse in the region, and the community will realize benefits from this collective agreement for years to come.”
Workers have been recalled and mining operations and milling on concentrators #2 will restart on Wednesday, Taseko Mines said.
The company added that Concentrator #1 will remain idle while scheduled maintenance is being completed, including the crusher relocation project.