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The former Inco Ltd. is getting a new name ... again. CVRD Inco changed its name Thursday to Vale Inco to reflect a decision by parent company CVRD (Companhia Vale do Rio Doce) to rebrand itself Vale (Valley in English) the same day. Full Story
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The proposed mining marriage made in heaven between Inco and Falconbridge in the fall of 2005 hinted at annual cost savings of about $550 million from 2007-2011. That was because the two mining companies, by becoming one big operation, could introduce all sorts of efficiencies, economies of scale and better organize its workforce. The hodgepodge of a mine here, a mill there and ore and concentrat Full Story.
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Greater Sudbury's already hot economy is getting a $132-million injection along with 76 new mining jobs. Vale Inco announced Tuesday plans to open a 2-million tonne ore body at its Coleman Mine property in Levack, also known as the 170 Ore body. "At Coleman Mine, we have demonstrated the ability to deliver projects in the past," project manager David Pisarich told reporters at a press conference Full Story.
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Vale Inco plans record production next year at its Sudbury operations, Ontario president Fred Stanford told members of the mining community Friday. Speaking to the annual meeting of the Sudbury Area Mining Supply and Service Association, Stanford said the company is looking to produce 298 million pounds of nickel in 2008, up 54 million from this year's production. Full Story.
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He has seen this scenario before: a mega-merger that would turn Greater Sudbury's mining community upside down overnight. But John Fera, president of Local 6500 of the United Steelworkers of America, which represents 3,200 production and maintenance workers at Vale Inco's Greater Sudbury operations, says he'll believe it when he sees it. That's because if Vale buys Xstrata PLC for a rumoured US$90 Full Story
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Things look incredibly rosy for the world’s second-largest nickel producer in 2008, but Vale Inco’s Ontario operations could run into a serious labour-shortage problem as the year unfolds. "There are approximately 5,000 people working," said Fred Stanford, president of Vale Inco’s Ontario operations, in a speech Thursday at the Holiday Inn in Greater Sudbury. "More than 900 people, one-fifth, cou Full Story.
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It appears that Cia. Vale do Rio Doce's attempt to buy Anglo-Swiss miner Xstrata has stalled, at least for now. Reuters, Bloomberg.com, the International Herald Tribune and the Financial Times are among the international news agencies to report Tuesday that Xstrata had rejected a $76-billion takeover approach from Brazil's Vale, and that its suitor was close to walking away. Full Story.
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The rumours are getting louder concerning the parent companies of Greater Sudbury's two nickel companies. The Reuters news agency reported Thursday a high-level source in Brazil confirmed a report in Sao Paulo newspaper O Estado de S. Paulo that Vale has upped its purchase offer for Xstrata PLC from 40 to 47 pounds a share - or more than $89 billion. Full Story.
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Profits for Vale, the world's second-largest mining company, soared 31 per cent in last year's fourth quarter, as strong iron-ore exports offset a decline in base metal prices and a strengthening currency, the Associated Press reported Friday. Full Story.
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Companhia Vale do Rio Doce SA, the company that bought Canada's Inco Ltd., said Friday it's in advanced talks to acquire Anglo-Swiss miner Xstrata PLC, but the blockbuster deal hinges on a decision by Xstrata's biggest shareholder to move the process forward. Vale chief executive Roger Agnelli didn't say what was holding up a deal but suggested the Brazilian company has done as much as it can. Full Story.
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The average nickel price fetched by Vale Inco and its Brazilian parent company rose 54 per cent in 2007 compared to the previous year. Which means it is a drastic understatement to proclaim 2007 was a very good year for Vale and its local nickel operations. Full Story.
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Mining company Xstrata confirmed Monday it's in talks to be taken over by Brazil's Vale do Rio Doce as it announced a 13.5 per cent rise in full-year net profit. The Anglo-Swiss company said the talks with Vale are ongoing. Full Story.
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Vale and Xstrata Plc have agreed to disagree about a deal that would have united the mining giants. Vale (Companhia Vale do Rio Doce) announced Tuesday negotiations to acquire Xstrata were discontinued "given that an agreement could not be reached." Full Story.
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Shares of Companhia Vale do Rio Doce SA rose five per cent Wednesday after the Brazilian miner said it has halted negotiations to buy Anglo-Swiss miner Xstrata PLC in a deal that would have merged the former Falconbridge and Inco operations. Full Story.
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These are dizzying times to live and work in Greater Sudbury. The city's unemployment rate is down around five per cent, a far cry from the days when the Nickel Capital was among the top three worst Canadian cities in which to find work. Full Story.
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Cia. Vale do Rio Doce, the world's biggest iron-ore producer, raised 18.4 billion reais ($11.5 billion) in a share sale, less than expected as commodity and oil stocks declined. Vale shares fell to a six-month low, Bloomberg.com's Diana Kinch reported Thursday. Full Story.
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If Vale Inco negotiators get any inkling that it's time to get rid of the Nickel Price Bonus Plan with their unionized workforce in Greater Sudbury, they have another thing coming, cautions a senior United Steelworkers of America staff representative. Full Story.
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Saying it believes in the long-term future of nickel prices, Swiss-based Xstrata plans to double its nickel production within five years, a senior executive said Wednesday. Xstrata's chief financial officer for its nickel arm, Shaun Usmar, said a hefty exploration budget coupled with an eye toward acquiring other miners would lead to the leap in output, Reuters reported Wednesday. Full Story.
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Cia. Vale do Rio Doce, the world's biggest iron-ore exporter, is looking for copper and coal acquisitions as profit growth slows following the steepest drop in nickel prices in two decades, Bloomberg. com reports. Vale raised US $12.06 billion last month in a stock sale that Chief Executive Officer Roger Agnelli said will be used for takeovers and expansion. Full Story.
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Cia. Vale do Rio Doce, the world's biggest iron-ore producer, rose in Sao Paulo trading after the company said second-quarter profit increased 22 percent to a record, beating analysts' forecasts, Bloomberg.com reported Thursday. Full Story.
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Nickel just cannot shake off its recent title of ‘Worst Performer’ in metals. Stockpiles, as monitored by the LME, have been increasing long enough for investors to shift blame from a summer lull to waning global demand. Full Story.
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Xstrata Plc, the world's fourth- largest nickel refiner, and Russia's Industrial Metallurgical Holding cut output of the raw material after costs surged and metal prices plunged, making operations unprofitable, Bloomberg.com reported Tuesday. Full Story.
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A dramatic drop in nickel prices over the last year does not appear to be jeopardizing operations or mine development projects in the Sudbury area, even though such cutbacks have been seen in other jurisdictions. Xstrata Nickel, for example, "has no plans to change capital spending plans in Canada," company spokesman Peter Fuchs told The Star on Wednesday. Full Story.
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On Friday, Vale Inco marked a century of operations at Garson Mine in the Sudbury Basin. Vale Inco officials, local dignitaries, United Steelworkers local 6500 representatives and Garson Mine employees past and present were on hand to help celebrate this significant milestone. Full Story.
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Vale Inco produced a record 298 million pounds of nickel in 2008, but it faces a few challenges to ensure the long-term sustainability of its operations, said Parviz Farsangi. "In Ontario, we've got an all-time record high (in production) this year," the company's executive vice-president and chief operating officer told a Sudbury audience Thursday. Full Story.
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The United Steelworkers union and the Vale Inco nickel company have a tentative agreement covering 1,286 workers in Manitoba. The union said it wouldn't release details of the vote to the public until its members have a chance to vote on the weekend. Results from the vote are expected to be released Monday. Full Story.
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THOMPSON, Man. - Members of the United Steelworkers (USW) Local 6166 have voted 65.5 per cent in favour of a new, three-year agreement with Vale-Inco at the company's Manitoba operations. The first contract negotiated with the Brazil-based company since it purchased Inco Ltd. in 2006. Full Story.
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Leo Gerard may have been boarding a transatlantic flight for the United Kingdom on Friday morning, but his heart was back home with Steelworkers. The international president of the United Steelworkers of America was heading to Manchester, England on his way to merger talks between USWA and Unite and there was no going home just now. Full Story.
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Greater Sudbury fire fighters poured more than one million gallons of water on Steelworkers Hall to try to save it, but in the end, the decision had to be made to tear it down. With the fire and demolition of the historic building also went irreplaceable historic and recent documents belonging to both Local 6500 and Local 2020. Full Story.
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Authorities all but confirmed Monday they are investigating an arson following last weekend's fire that destroyed Greater Sudbury's Steelworkers Hall. The fire, which took 26 hours to extinguish and caused millions of dollars in damage, appears "criminal in nature," Greater Sudbury Police Chief Ian Davidson said during a news conference Monday. Full Story.
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Xstrata PLC increased its stake in British rival Lonmin PLC on Wednesday, hours after the Anglo-Swiss mining giant sent shares in the world's No. 3 platinum producer tumbling by announcing it would not proceed with a planned US$10 billion takeover bid. Full Story.
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The union representing more than 3,000 production and maintenance workers at Vale Inco's Greater Sudbury operations has assembled its 2009 bargaining committee. Through elections held Oct. 7 and 8, six people were chosen for the United Steelworkers of America Local 6500 bargaining team. Full Story.
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Citing the plummeting price of nickel, Sudburybased miner First Nickel has suspended production at its Lockerby Mine, putting more than 150 people out of work indefinitely. The mine employs 160, but some will be retained for what the company is calling a care and maintenance program. Full Story.
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What one analyst called a "cascading" drop in nickel prices has affected another Sudbury-based miner. FNX Mining announced Tuesday it's suspending what it called "commercial" production at its Levack property because of low prices and high operating costs. Full Story.
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Brazil's Vale, one of the world's top three mining companies, said on Thursday its third-quarter net profit rose sharply as gross revenues and iron ore sales hit records but nonferrous metal sales slumped, Reuters reported. Net profit rose to $4.8 billion, up 64 percent from the same period last year but down 3.8 percent from the previous quarter, Vale said in a statement. Full Story.
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Brazil's Vale mining company will slow output to cut costs as demand for iron ore and other metals slumps amid the global economic crisis, company officials said Friday. Vale, the world's second largest miner and top producer of iron ore, will halt or slow output in regions where production costs are high. Full Story.
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It has been 30 years since the start of the Inco Strike of 1978-79, but recalling the events of the pivotal period in Sudbury's labour history caused Dave Patterson to choke up at times. Patterson was the young Local 6500 president who led the strike back in the 1970s, a job he held into the 1980s. Full Story
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Falling metal prices and a looming recession are threatening to cast a shadow over northeast's sprawling mining service and supply sector. The sector, which employs 15,000 to 17,000 workers for some 500 companies in Greater Sudbury, North Bay and Timmins, has lost an estimated 200 jobs in recent months. Full Story.
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Hampered by falling metals prices, FNX Mining Co. Inc. recorded a net loss of $26.5 million, or 31 cents per share, in the third quarter, the company said Thursday. That compares with year-ago earnings of $12.5 million for the Sudbury-based copper and nickel miner. Full Story.
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Local mining supply and service companies are growing impatient with Vale Inco for the length of time it's taking the mining giant to pay its bills. A new, standardized accounts payable system that Vale Inco launched in August means it's taking 120 days or longer for some service providers and suppliers to be paid for services provided to the company. Full Story.
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An Xstrata Nickel employee with 10 years at the company's Thayer-Lindsley Mine says he understands the economic pressures that are forcing the early closure of his operation. When it costs $8.53 to produce a pound of nickel that is selling for about $4.50 a pound, it doesn't make sense to continue mining it. Full Story.
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There will be no third quarter nickel bonus for the Xstrata Nickel employees. While the price of nickel did not fall below the cut-off point of $2.25 per pound, the company did not show a profit in the quarter that began in July and ended at the end of September. Full Story.
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Representatives of Xstrata Nickel and its largest union, Mine Mill Local 598/CAW, met for four hours Monday to discuss plans to reduce the company's workforce by 250. Xstrata announced last week it was closing Thayer- Lindsley Mine on Jan. 30, and Craig Mine on June 30, 2009, affecting about 500 workers in total. Full Story.
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Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, fired 1,300 employees and will send 5,500 more on paid leave because of the “serious crisis” in the metals and mining industry, Bloomberg.com reported Tuesday. An additional 1,200 employees are being retrained for new jobs, a press official for the Rio de Janeiro-based company said in a telephone interview. Full Story.
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Nickel giant Vale Inco Ltd. is preparing to cut production at its Sudbury operations in response to plunging base metal prices, the Globe and Mail reported. Citing people familiar with the situation, the newspaper reported the company could announce production cutbacks as early as today. Full Story.
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By now, this morning’s announcement from our corporate Management Committee in Toronto on reductions in the global nickel business has no doubt been seen, heard and talked about by all of us in the Ontario Operations and our Vale Inco colleagues around the world. As reinforced by this morning’s message, we are in very challenging times. Full Story.
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Citing high costs and slumping prices, Vale Inco is closing its Copper Cliff South Mine indefinitely. Production will stop at the end of December, resulting in an annual production cut of 8,000 metric tonnes of finished nickel. Full Story.
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There are so many conflicting signs about the state of the economy, and in particular, Sudbury's future, that it's not possible to make accurate predictions, but watching the actions of the two major local mining companies will give us an indication of two important factors -- how they view the depth and length of the current recession and how, as foreign owners, they will take action in Sudbury. Full Story.
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Less than a week after announcing its Copper Cliff South Mine would be put on standby in January and its 365 employees transferred, Vale Inco is pushing ahead with cuts to contract work at its local operations. "Yes, there is no doubt the contractor community is going to be affected by the announcement we made last week," said company spokeswoman Angie Robson. Full Story.
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Roger Morin wasn't surprised to learn Wednesday that FNX Mining Co. Inc. was cutting its workforce by 307 as it extends its suspension of nickel ore production in Sudbury. The president of Steelworkers Local 2020, which represents many of the unionized employees with the junior mining company, said the union has been watching recent developments in the mining industry. Full Story.
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The way Leslie Reynolds sees it, you have to do what you have to do. One of the first of hundreds of Sudburians to lose their jobs in the nickel mining industry in the last two months, Reynolds is happy to have found work as a scoop tram operator with Goldcorp Inc., 550 miles northwest of Thunder Bay. Full Story.
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A joint committee of representatives from FNX Mining Company and Steelworkers' Local 6500 has been struck to look at issues related to the layoffs of 248 hourly employees Dec. 10. The employees are members of Steelworkers Local 2020, and the Steelworkers' Area 1 co-ordinator says he hopes the committee has resolved outstanding issues by the end of this week. Full Story.
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CAW President Rick Grylls is one of about 200 Xstrata Nickel employees who have accepted the mining company's early retirement offer. The offer was made to 250 workers -- 180 of them production and maintenance workers, 30 office, clerical and technical workers, and 40 staff -- after the company announced plans last month to close two of its mines. Full Story.
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Thirty-four of the 44 office, clerical and technical workers offered an early retirement package from Xstrata Nickel have accepted the deal, says the unit president of United Steelworkers Local 2020 at Xstrata Nickel. That means "no layoffs," said an ecstatic Marc Ayotte on Thursday. Full Story.
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The United Steelworkers of America has scheduled a meeting today at 10:30 a. m. for all hourly rated workers at FNX Mining Company Inc. to discuss the company s layoff package. The meeting will be held at the Radisson Hotel at 85 Ste. Anne Rd. Full Story.
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Several days of talks between United Steelworkers of America and FNX Mining Company representatives have failed to resolve a dispute over severance pay involving 248 unionized employees let go two weeks ago. Jim Kmit, a Steelworkers district staff representative, made the comments following a meeting with the laid-off miners at the Radisson Hotel on Monday morning. Full Story.
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Vale Inco did such a good job in making internal changes at its operations worldwide -- including Greater Sudbury -- this month that it didn't need as many staff employees to leave via the voluntary early retirement offer route. "We achieved the result we needed to do through replacing contractors and casual employees through full-time staff and a small number of voluntary retirees." Full Story.
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What a difference a year makes. A year ago, few expected that, by the end of 2008, nickel prices would have slumped and hundreds of workers in the mining industry would have lost their jobs. Full Story.
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Ontario's embattled northerners shouldn't lose hope for prosperity amid shutdowns and layoffs in their once-mighty mining industry because there are signs the downturn is temporary, says the minister responsible for the region and its mines. Full Story.
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FNX Mining Co., which suspended nickel output and cut jobs last month, said copper and precious-metal sales will allow the company to continue producing those minerals for at least two years, Bloomberg.com is reporting. The two mines in Sudbury that FNX has kept in operation contain concentrations of copper, gold, platinum and palladium rich enough to extract profitably. Full Story.
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Vale Inco may close its Sudbury operations for two or three months in response to falling demand for nickel and to pressure workers in contract negotiations, analysts told Bloomberg.comMonday. Vale is scheduled to start talks with Local 6500 of the United Steelworkers of America in April, before a planned maintenance shutdown in May. Full Story.
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If Vale Inco is to enact its much-rumoured shutdown in the wake of falling nickel prices, it will not do so in isolation. The old days of Sudbury unilaterally shutting down its operations to control the price of nickel are no longer realistic. Vale Inco's Sudbury operations accounts for 9.4 per cent of the global output of finished nickel. Full Story.
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Cia. Vale do Rio Doce, the world’s largest iron-ore producer, plans to boost capital spending this year by 40 percent to increase output and shipments of iron ore, coal, nickel and other metals, anticipating a rebound in demand, Bloomberg.com reported Friday. Full Story.
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The fact Vale Inco's parent company is going ahead with plans to spend $14 billion in 2009 comes as no surprise to a Laurentian University commerce professor. "I totally disagree with people who think this is going to be a long recession," Jean-Charles Cachon said Friday. Full Story.
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Early last week, analysts were speculating about the possibility of a lengthy shutdown at Vale Inco due to low nickel prices, but on Friday, there was Roger Agnelli, Vale's CEO in Brazil, announcing the company will invest $14 billion in its operations this year, up from the record $10 billion the company spent on its operations last year. Full Story.
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Don't write the obituary for Thayer Lindsley Mine yet. Due to procedural delays, the Xstrata Nickel mine located off Highway 69 North, which had been scheduled to close in January, will not go into full care-and-maintenance mode until about March 1. Full Story.
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On Monday, Xstrata Nickel announced it's cutting 686 jobs in Sudbury, more than 40 per cent of its local workforce. The cuts are being made due to the mothballing of Fraser and Strathcona mines, accelerated closing of Craig Mine (it was scheduled to close in June), and the reduction in shifts from four to two at the Strathcona Mill. Full Story.
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n Monday, Xstrata Nickel announced it's cutting 686 jobs in Sudbury, more than 40 per cent of its local workforce. The cuts are being made due to the mothballing of Fraser and Strathcona mines, accelerated closing of Craig Mine (it was scheduled to close in June), and the reduction in shifts from four to two at the Strathcona Mill. Full Story.
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When Michael Koppes started at Cambrian College in 2007, he heeded this advice: "You can't go wrong with electrical." His plan was simple. Study at Cambrian and do his coop placements at Vale Inco or Xstrata Nickel, so eventually he could get a job with one of the mines. Full Story.
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It's going to be hard to fathom: one of the Nickel Capital's historic mining operations running just one mine for the foreseeable future. That's the scenario facing Xstrata Nickel following large-scale job cuts and plant closures announced Monday. Full Story.
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Misread or mislead is the question of the day. The 200 plus retirements, the devastating news of almost 700 jobs lost at Xstrata Nickel, which will multiply up to four times more lost jobs in Sudbury, has everyone wondering how far will our system collapse around us. Full Story.
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A direct economic impact of roughly $75 million annually can be expected from huge job losses in Greater Sudbury, a local economist says. While such a number is worrisome, it won't be catastrophic for the city's economy, says Laurentian University professor Jean-Charles Cachon. Full Story.
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Industry Minister Tony Clement insisted Wednesday the federal government did in fact secure a new investment from Xstrata PLC, countering opposition claims he took credit for what was already a done deal. Clement came under fire for taking credit for the foreign mining giant's pledge to spend US$290 million to offset massive job cuts in Sudbury. Full Story.
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They came by the hundreds to vent their anger, frustration and anxiety, but at the end of an intense meeting Wednesday, many laid-off Xstrata Nickel miners acknowledged their job losses appear irreversible. "There's no real hope for this thing to turn around and us get our jobs back in the next couple of months, or even in the next year or two, maybe," said miner Darren Anderson, 29. Full Story.
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Union leaders and Xstrata Nickel officials engaged in intense negotiations Thursday over measures to mitigate the impact of the company's massive layoff announcement earlier in the week. Discussions had become similar in tone and intensity to contract negotiations, said Richard Paquin of the Mine, Mill and Smelter Workers' Union Local 598/CAW. Full Story.
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Union leaders and representatives from Xstrata negotiated into early Friday morning, and emerged with a deal to help lessen the financial hardship of laid-off workers. Under the agreement, the 686 Xstrata employees laid off Monday, will be paid full wages for 16 weeks. The company will also provide full benefits through that time. Full Story.
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The Clarabelle Mill processing plant of Vale Inco separates nickel from copper concentrates to help increase the productivity of its Copper Cliff Smelter in Sudbury. The company issued a request for bids on a combined roof demolition/replacement contract in 2007, with the understanding that the work wouldn’t interfere with processing plant operations. Full Story.
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To put things in perspective, Greater Sudbury lost almost 700 jobs when Xstrata Nickel announced last week it was closing mines and reducing its workforce in response to lower nickel prices and weak demand. Greater Sudbury has a population of about 157,000; the Greater Toronto Area has 5.5 million. Full Story.
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Over the last two years working for Xstrata Nickel, Pete Larabie said he was told the company was there for his family. He said the almost 700 layoffs that happened last week were "like a guillotine that chopped off the heads of families. "I thought the layoffs were very cut-throat," said the 29-year-old. Full Story.
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John Fera, president of United Steelworkers Local 6500, has heard the same rumours everyone else has -- the other shoe is about to drop and Vale Inco will announce hundreds of layoffs at its Sudbury operations. The buzz began before Xstrata Nickel announced Feb. 9 it was cutting 686 jobs in Sudbury, but it has intensified since the announcement caught workers -- and the community -- off-guard. Full Story.
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Bloomberg.com reported Thursday that Cia. Vale do Rio Doce, the world's largest iron-ore producer, said fourth-quarter profit fell 47 per cent because of a $950-million charge to write down the value of the Inco acquisition and lower nickel and copper sales.Net income fell to $1.37 billion, or 26 cents a share, from $2.57 billion, or 52 cents a year earlier. Full Story.
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Vale Inco spokesman Steve Ball said Thursday the mining giant continues to monitor market conditions "and that's all there is to say" about widespread speculation that layoffs at Sudbury operations are imminent. "As far as I know, the only announcement coming today, and probably later today, is our end-of-year results and quarterly results. That's the announcement coming from our company." Full Story.
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United Steelworkers Local 6500 president John Fera will be looking for answers next week from Vale Inco Ltd. about how Ontario operations lost $131 million in the fourth quarter of 2008 -- and why his members won't be receiving a nickel bonus for that period. Full Story.
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Industry Minister Tony Clement told Claude Gravelle he can't do anything more to ease the blow of 686 layoffs at Xstrata's Sudbury operations, the Nickel Belt MP said. Gravelle met with Clement on Monday afternoon in Ottawa. "He said that he has already done all he can do for Xstrata," Gravelle said. Full Story.
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Vale Inco Limited announced Tuesday morning it is cutting 900 jobs in response to reduced demand and prices for nickel. The restructuring will see the elimination of approximately 900 full-time positions in the nickel business distributed across the Company's operations worldwide. Full Story.
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For the second times in less than a month, the people of Sudbury woke to news that hundred of the jobs of their friends, neighbours and family members had been eliminated. Early this morning, Brazilian-based mining giant Vale Inco announced it will be laying off 261 workers at its Sudbury operations. Full Story.
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Over the past few months my Management Committee colleagues and I have provided periodic updates on how the global economic crisis is affecting us at Vale Inco. Our messages have included a look at the changing world market, an overview of the year ahead in the nickel business and a frank discussion of the challenges we face as an organization. Full Story.
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When Vale Inco's layoffs announced Tuesday are worked into the equation, the City of Greater Sudbury will have lost about 3,450 direct and indirect mining sector jobs since early fall, mining analysts said Tuesday. "Our guys are really worried more about the impact on the community," said Dick DeStefano, executive director of the Sudbury Area Mining Service & Supply Association. Full Story.
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Sudburians experienced another sinking feeling in their guts at Tuesday's news about the latest round of cuts to the mining sector, which saw the layoff of 261 jobs, mainly staff, from Vale Inco. "Can you imagine there are 261 guys going home today, telling their families, 'I don't have a job'. The prospects in Sudbury, let's be honest, are not going to be good," said Keith Taylor. Full Story.
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The news everyone had been dreading was delivered Tuesday morning when 261 staff with Vale Inco in Sudbury were told they were being laid off. Sixty-five office, clerical and technical workers with United Steelworkers Local 2020 lost their jobs and 196 non-union staff were cut as part of a global restructuring of Vale Inco affecting 900 jobs in the nickel industry. Full Story.
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United Steelworkers' (USW) area co-ordinator Jim Kmit said Wednesday that any trust he had in Vale Inco is gone. "The company signs an agreement with the federal government that no layoffs will occur for three years. That agreement expires in October 2009," said Kmit. Full Story.
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A confidentiality agreement is being considered between United Steelworkers and Vale Inco Ltd. that would give the union some access to the nickel giant's books before contract talks between the two sides begin in early April, says John Fera. Full Story.
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United Steelworkers' area co-ordinator Jim Kmit said Tueday that Vale Inco has refused to cooperate in any way with the union in the layoffs the company announced last week. In a release, Kmit said the company has indicated it will continue to contract out work and lay off Vale Inco employees. Nor will the company put the pension offer from December back on the table. Full Story.
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Diversified mining giant Companhia Vale do Rio Doce (Vale) has reaffirmed its commitment to its investment programme, despite the global recession. “What we seek first is to preserve the scope of our investment programme – this is the basic objective,” Vale CFO Fábio Barbosa emphasised at a press conference in Rio de Janeiro late last month. Full Story.
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Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, may further pare production if demand continues to fall, Chief Executive Officer Roger Agnelli said. “We’re always adjusting to demand,” Agnelli said in an interview with bloomberg.com Monday on the sidelines of a conference in New York. Full Story.
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It's not all doom and gloom in the mining and metals sector, according to a new report from Ernst & Young A reduction in world metal inventories, combined with infrastructure-intensive stimulus packages worldwide, could lead to a "new rally" in the sector, it says in a report called 2008: The Year When Cash Was King released this week. Full Story.
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While the local operations were originally going to be trimmed by two mines -- Craig in June and Thayer Lindsley in January -- as wind-down operations were going to be accelerated, and 220 workers accepted an early-retirement incentive offer in late January, the bombshell announcement of Feb. 9 will radically change the way Xstrata Nickel operates in the area. Full Story.
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What will happen with Vale Inco's Greater Sudbury operations in 2009? Contract talks are set to start soon between the nickel division and more than 3,200 production and maintenance workers represented by Local 6500 of the United Steelworkers of America. The current three-year contract expires May 31. Full Story.
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United Steelworkers has convinced Vale Inco to turn over sensitive financial information to the union and that bodes well for contract talks starting next week, says USW Local 6500 president John Fera. Full Story.
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Nickel Belt MP Claude Gravelle is angry with an announcement Wednesday from the Conservative government of Premier Stephen Harper that it would not be releasing the takeover agreements between Industry Canada and Xstrata Nickel and Vale Inco. Full Story.
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More than half the 3,500 or so members of United Steelworkers Local 6500 will have an opportunity April 8 and 9 to do something they have never done before — elect their union executive. The first executive elections in nine years will be held this week — the day after the union exchanges proposals with Vale Inco Ltd. for a new three-year collective agreement with its employer. Full Story.
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Virtually everyone in Sudbury will benefit if almost 3,500 hourly rated workers who are members of United Steelworkers Local 6500 can win a lucrative new contract with Vale Inco Ltd. in negotiations that begin today. The Brazilian-based mining giant may seek concessions at the bargaining table from their Sudbury and Port Colborne production and maintenance workers. Full Story.
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Negotiators for United Steelworkers Local 6500 and Vale Inco Ltd. were all smiles and good sports as they greeted each other and exchanged proposals in front of reporters Tuesday afternoon in a meeting room at the Radisson Hotel. Full Story.
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Almost 3,500 members of United Steelworkers are eligible to vote in executive elections today and Thursday at 11 Vale Inco Ltd. operations and at one roving poll. President John Fera is being challenged by vice-president Patrick Veinot. Full Story.
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The United Steelworkers Local 6500 vice-president who challenged John Fera for the union's top job -- and lost by seven votes -- is appealing many of the results of last week's election for officers. Patrick Veinot ran as head of the Workers' Team, a slate of candidates who challenged all of the positions in the first Local 6500 election in almost a decade. Full Story.
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Unionized workers at Vale Inco's (VALE5.SA) Voisey's Bay nickel mine in eastern Canada are into their seventh week of working without a new contract as the company negotiates with the United Steelworkers union, a company spokesman said on Wednesday. Full Story.
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Another recount will be held for contentious election, results of a heated campaign for leadership of Sudbury's largest trade union. "They're going to recount the votes one last time," said a source within United Steelworkers Local 6500. Full Story.
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The global economic crisis is being blamed as Sudbury's mining industry -- and the community at large -- suffers another blow. More than 4,000 Vale Inco employees will be off work for three months due to an extended shutdown of Sudbury operations announced by the company Thursday. Full Story.
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The only surprise in Vale Inco's decision to stop production in Greater Sudbury for three months was that it wasn't made earlier, a mining analyst said Friday. "They are not making money with nickel today," said Kerry Smith, of Haywood Securities in Toronto. Full Story.
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Federal Industry Minister Tony Clement is meeting with Vale Inco officials this week to discuss the company's decision to shut down its Greater Sudbury operations for most of the summer. "At this point, we are going to stick with our statement," said Pema Lhalungpa, a spokeswoman in Clement's office, when reached Monday. "(Clement) is working on the matter." Full Story.
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Vale Inco won’t be meeting with federal Industry Minister Tony Clement over the nickel division’s plans for an eight-week shutdown of its Greater Sudbury operations in June and July, says a Vale Inco spokesman. “The government has sent us a letter of request with some considerable explanation seeking clarity about our announced shutdown,” Cory McPhee said Tuesday. Full Story.
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Vale Inco won't be meeting with Industry Minister Tony Clement about the nickel division's plans for an eight-week shutdown of its Sudbury operations in June and July, says a Vale Inco spokesman. But it does have some explaining to do to the federal minister to justify the shutdown. Full Story.
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nited Steelworkers' Local 6500 and Vale Inco Ltd. are working together to mitigate the cost of an eight-week production shutdown to about 5,000 employees at the nickel giant's Ontario operations. But the unexpected June 1-July 27 production break may not take quite the financial toll on hourly rated and management employees — and the community — as was first expected. Full Story.
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It's official. John Fera remains president of United Steelworkers Local 6500 thanks to a slim margin of five votes over challenger Patrick Veinot, the union's former vice-president. Full Story.
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The president of Mine Mill Local 598/CAW has some pressing questions for Industry Minister Tony Clement if he gets to meet him face to face today on Parliament Hill. Topping the list will be why the minister grilled Vale Inco Ltd. officials about an eight-week production shutdown when Clement has said little about the layoffs of 700 people at Xstrata Nickel's Sudbury operations. Full Story.
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Smoke continues to billow from Vale Inco Ltd's superstack in Copper Cliff even though the company's hot-metal circuit has been closed since May 1 for regularly scheduled maintenance. One of the Copper Cliff Complex's furnaces has been shut down and is being rebuilt, but a second furnace will continue to operate for a week or so before it undergoes routine maintenance. Full Story.
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After nearly three months of demanding such an audience, a representative of laid-off Xstrata Nickel workers was able to vent his concerns face-to-face Wednesday with federal Industry Minister Tony Clement. However, the brief meeting produced little reason for optimism about the fate of laid-off miners and some of Xstrata Nickel's closed Sudbury operations. Full Story.
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Vale Inco plans to cut or move human resources, finance and procurement jobs out of Sudbury, says the company's director of communications. Cory McPhee said it is too early to tell how many jobs will be affected. Full Story.
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FNX Mining will likely keep its Sudbury mines running if Vale Inco reaches a labor agreement at its Sudbury operations before the May 31 expiration of the union contract, FNX's chief executive said on Thursday. FNX processes its ore at Vale facilities, but Vale will shut its Sudbury operations on June 1 for eight weeks to trim nickel output. Full Story.
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More than 3,300 members of United Steelworkers Local 6500 are being asked to give their union's bargaining committee a strong strike mandate in a vote to be held Thursday at Vale Inco Ltd. plants and at the union's head office. Contract talks between Local 6500 and Vale Inco began April 7. Full Story.
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The deadline for expiry of United Steelworkers Local 6500's collective agreement has been extended from May 31 until June 5 -- five days after a two-month production shutdown is set to begin at Vale Inco Ltd.'s Ontario operations. Contract negotiations will also continue until that date. Full Story.
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Call it an example of the ancient Chinese curse: "May you live in interesting times." Brazilian-owned Vale Inco Ltd. is determined to cut costs and boost production, while its 3,000-plus production and maintenance workers fight to retain healthy hourly wages, significant benefits and nickel bonuses they have negotiated over the years. Full Story.
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In an unprecedented agreement, contract talks between United Steelworkers Locals 6500 and 6200 and Vale Inco Ltd. have been extended until July 12 at midnight, as have the current collective agreements for the two union locals. The union and the Brazilian-based company say the extension is good news because it means the sides are still talking to avoid either a strike or a lockout. Full Story.
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Vale Inco Ltd.'s two-month production shutdown of its Ontario operations starts today and it's "a sad scenario," says a former president of United Steelworkers Local 6500. Homer Seguin says many of Vale Inco's more than 3,000 production and maintenance workers will be without work for two months and will have to live on Employment Insurance benefits that are a fraction of their regular salaries. Full Story.
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Vale Inco is taking aim at the nickel bonus and pension plan at the bargaining table, says a United Steelworkers official. Wayne Fraser, director of USW District 6 and a member of the union's bargaining committee, said Vale Inco is heading down a "dangerous road." Full Story.
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Good news for Greater Sudbury's economy and the 400 people who work for FNX Mining -- the company will continue mining at local operations and stockpile ore until Vale Inco, which processes FNX's ore, restarts its mill next month. "We have a full complement of employees and we're carrying on for now," David Constable, FNX's vice-president of investor relations, said. Full Story.
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An impasse over a lucrative benefit paid to workers at northern Labrador's Voisey's Bay nickel mine is at the fore as negotiations resume Monday between Vale Inco and union representatives, CBC News is reporting. A bonus tied to the price of nickel is a key element in the bargaining, said Boyd Bussey, a negotiator with the United Steelworkers union. Full Story.
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Industry Ministry Tony Clement says he will look into why the federal government is planning to dock $175 from the first two Employment Insurance cheques laid off Xstrata Nickel workers are supposed to get. The money is a so-called topup that is part of an agreement Xstrata Nickel has with Local 598 of Mine Mill/CAW, which represents most of the laid-off workers. Full Story.
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Greater Sudbury is starting to feel the pain of the global recession. Over the past four months, the city has lost 5,000 jobs out of a workforce of 87,000, David Robinson, a Laurentian University economics professor, said Friday. Full Story.
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The United Steelworkers have bought the former Loeb building at 66 Brady St. for $1.85 million. Ontario land registry records indicate that John Fera, Kevin Conley and David Gordon, all officers of the union, purchased the building on Friday. Full Story.
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Federal Industry Minister Tony Clement should resign in "disgrace" for refusing to intervene in mining job losses in Sudbury, says an official with the United Steelworkers union. "I think (Clement) should step down," said Wayne Fraser, director of Steelworkers District 6, which represents thousands of union members in Ontario and Atlantic Canada. Full Story.
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The departure of the Sudbury- based president of Vale Inco's Ontario operations is not part of ongoing job cuts and corporate restructuring, the company says. Fred Stanford's departure was reported to Vale Inco employees Wednesday and made public Thursday, as was a company forecast for additional restructuring -- and presumably job cuts -- over the next few months. Full Story.
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The job cuts continue at Vale Inco's Sudbury operations, with another dozen employees laid off this week as part of the company's ongoing downsizing program. The layoffs, implemented Thursday, were part of the elimination of 50 positions throughout Vale Inco's global operations, the company confirmed Friday. Full Story.
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Swiss metals company Xstrata is seeking a merger with Anglo American Plc to create a mining group that would rival BHP Billiton Ltd., the world's largest, Bloomberg News is reporting. Xstrata said on the weekend it proposed to London-based Anglo a "merger of equals" that would lead to "substantial" cost savings. Full Story.
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It's time to let the community know United Steelworkers Local 6500 is fed up with bargaining with a "Third World employer" that only recognizes dollars and not people, says John Fera.
The president of Local 6500 said virtually no progress has been made in contract talks that began with Vale Inco Ltd. on April 7 and were extended to July 12. Full Story. -
The two boys charged with arson in connection with a fire that destroyed the United Steelworkers' Hall last Sept. 19 have pleaded guilty in Sudbury youth court. The pair, both now 13, will be sentenced in the fall. Full Story.
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He isn't heading to Toronto on Thursday to negotiate with Vale Inco president and CEO Tito Martins, but Sudbury MP Glenn Thibeault says the subject of the company's contract negotiations with United Steelworkers is bound to arise during their "conversation." Full Story.
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The negotiating committee for United Steelworkers locals 6500 and 6200 says it is ready to ramp up contract talks with Vale Inco Ltd. this week, but it can't because half the mining company's team is involved in company restructuring. USW District 6 director Wayne Fraser said Thursday there hasn't been "one iota" of progress in contract talks that began April 7. Full Story.
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A meeting with Vale Inco president and chief executive officer Tito Martins left Sudbury MP Glenn Thibeault feeling optimistic Thursday about the nickel company's long-term future in Sudbury, he said. Martins assured him the Brazilian-owned company was "not going to make an investment of $18 billion (to purchase Inco Ltd.) and then just walk away from it," said Thibeault. Full Story.
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The negotiating team for Vale Inco Ltd. presented United Steelworkers Locals 6500 and 6200 (Port Colborne) with the company's settlement proposal Friday as the July 12 deadline for an agreement, a strike or a lockout loomed one day closer. Vale Inco also took the unprecedented step of launching a website to inform members about the progress of contract talks. Full Story.
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With no movement on the bargaining table during the weekend, it's looking like pickets will be going up at Vale Inco on July 12. "I think a strike is imminent," said Wayne Fraser, United Steelworkers District 6 director. "Unfortunately ... they haven't changed position since April." Full Story.
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Contract talks broke off Monday at 11:30 a. m. between the Steelworkers and Vale Inco Ltd. after negotiators for the mining company told the union the proposal it had presented late Sunday night was its final offer. View the company's proposals for both Local 6500 and 6200. Full Story.
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More than 3,000 production and maintenance workers with United Steelworkers Local 6500 will decide this week if an altered pension plan, a smaller nickel bonus and restrictions on how often they can apply for new jobs are reason enough to strike. Full Story.
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The president of United Steelworkers Local 6500 and a retired former local president are accusing Vale Inco Ltd. of bad-faith bargaining in contract talks that broke off Monday. John Fera is angry the company posted its settlement proposal online Tuesday before he and other members of USW's bargaining committee could present it to members at information meetings Wednesday and Thursday. Full Story.
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Vale Inco's top executive has agreed to appear before Greater Sudbury city council and address the politicians' concerns over the company's plans in the community. Tito Martins, Vale Inco's president and chief executive officer, agreed to Mayor John Rodriguez's request for a meeting with council, Rodriguez said Wednesday. Full Story.
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Employees at nickel miner Vale Inco's Labrador operations have voted to reject a final contract offer by the company. This means the 450 workers at the Voisey's Bay mine and nickel processing concentrator will be on strike beginning Aug. 1. Full Story.
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A strike against Vale Inco is all but certain according to members of United Steelworkers Local 6500 who emerged angry, disgusted and resigned to the inevitable from two information meetings Wednesday at Garson Arena. About 1,600 members attended a 1 p. m. meeting and 900 an 8 p. m. session at which members of their bargaining committee recommended they reject Vale Inco's proposal. Full Story.
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Vale Inco announced Thursday it is laying off 140 management staff worldwide -- about half of them in Canada, 54 in Sudbury -- as part of the restructuring the company has undergone during the last eight to 10 months. Vale Inco spokesman Cory McPhee said Sudbury employees, who work in business support functions, were told Thursday that it was their last day of work. Full Story.
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The president and chief executive officer of Vale Inco, Tito Martins, says there will be a strike at the company’s Ontario operations, but it won’t last long. That’s hardly reassuring to Nickel Belt MP Claude Gravelle, who said Martins made the admission to him when the New Democrat politician phoned him Thursday. Full Story.
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A Vale Inco officials insists the company does not want a strike and has made no attempt to predict the length of a work stoppage should it come about. Cory McPhee, Director of Corporate Affairs, says it is not possible to predict the length of a strike. Full Story.
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It could have been a summer of hope in Greater Sudbury, in spite of the recession. But it's not looking that way at the moment. Bittersweet is more likely, with emphasis on the bitter. Full Story.
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Members of United Steelworkers Local 6500 will almost certainly set up picket lines at 12:01 a.m. Monday after 85 per cent of 2,600 members who cast ballots in ratification votes rejected Vale Inco's final contract offer. Steelworkers accepted the advice of their union negotiating team, which recommended Vale Inco's settlement proposal be rejected in balloting held Friday and Saturday. Full Story.
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Less than a month away from tHe arrival of their first child, Sarah Hunter and Ronnie Young recognize it's not the best time to be jobless. But the young couple nevertheless voted Friday to reject Vale Inco's contract offer -- a decision that could lead to a long period of unemployment. Full Story.
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Members of United Steelworkers Local 6500 spent most of the weekend preparing to set up picket lines at Vale Inco operations Sunday at midnight after voting overwhelmingly to reject the company's final offer. Eighty-five per cent, or 2,600 members, accepted the recommendation of their bargaining committee and cast ballots to reject the company's settlement proposal in ratification votes. Full Story.
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About 20 members of United Steelworkers Local 6500 lit fire barrels, hoisted picket signs and waved Canadian flags just before midnight Sunday, minutes before their contract with Vale Inco expired and they began striking against their employer. Local president John Fera joined the picket team at the Copper Cliff Smelter Complex where he gave Steelworkers a pep talk. Full Story.
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Workers at nickel miner Vale Inco's Sudbury operations hit the picket lines Monday, believing they can force a quick end to their contract dispute as the company's supply of the metal is slowly strangled off. But Vale Inco says the union must show some willingness to compromise before it will head back to the bargaining table, setting the stage for another long and bitter showdown. Full Story.
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As thousands of miners hit the picket lines at Vale Inco's nickel operations in Sudbury on Monday, demanding a better labour contract, analysts said the strike might work in the company's favour, at least in the near term. The mine was shut for two months on June 1 in an attempt to handle oversupply of the metal, which means the labour stoppage won't have an impact until at least early August. Full Story.
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From buoyant to sombre, the mood at each picket line set up outside Vale Inco's Sudbury operations varied depending on where you went. Common to all on Day 1 of the strike was the smoke of burning skids and a collection of donations from the community, supporting the United Steelworkers Local 6500. Full Story.
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A strike at Sudbury's Vale Inco's operations is hardly new to the city, but the conditions under which the strike is being waged are quite new. In the past, Sudbury's mining operations were the jewel in Inco's crown, representing the largest share of revenues for the company. But things have changed. Full Story.
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Roland Thibeault has walked a picket line four times and he's only worked at Vale Inco for 18 months. This is his first strike against the nickel company, but he was in three at Domtar in Nairn Centre, where he was laid off after 15 years and almost a year on the picket line in 2001 when he was was 116th on a list of 110 employees called back after the work stoppage. Full Story.
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An expert with a conflict management firm can understand why Sudburians believe they have a vested interest in United Steelworkers Local 6500's strike against Vale Inco. But it will be up to those two parties and those parties alone to decide when -- and if -- they want to settle a labour dispute that began Monday. Full Story.
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Listen to a part of an interview with Industry Minister Tony Clement where he talks about Sudbury facing the "Valley of Death."
Canada's Industry minister was talking to The Star's Carol Mulligan about the strike on Friday at Vale Inco when he made the comments. Click here. -
The international president of United Steelworkers delivered a blunt message to 150 strikers and supporters Friday on the picket line at the Copper Cliff Smelter Complex on the fifth day of a strike against Vale Inco Ltd. Get ready for a long one.
"I don't want to mess with words," said Leo Gerard, speaking from the steps of a picket shed. Full Story. -
Sudbury is better off now than it was two and a half years ago when Vale Inco Ltd. bought the former Inco Ltd., says Canada's Industry minister. If the Brazilian-owned Companhia Vale do Rio Doce hadn't bought it, Inco would "not exist, it would have been closed down, it would have been liquidated if there wasn't a buyer," said Tony Clement. Full Story.
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The majority of respondents to The Sudbury Star's online poll think the Vale Inco labour dispute will last several months. The question was: "Will the duration of the labour dispute at Vale Inco be short (1-2 weeks), medium (1-2 months) or long (several months)?" Full Story.
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United Steelworkers are going to have someone on the "inside" challenge Vale SA president and chief executive officer Roger Agnelli to defend his comments that Vale Inco's Sudbury operations are not financially sustainable. Wayne Fraser, director of USW's District 6, said he spoke Monday with the head of a Brazilian mining unit who is a member of the board of directors of Vale SA in Brazil. Full Story.
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Two New Democrat MPs, a candidate for the Liberal nomination and a Laurentian University economist are calling on Industry Minister Tony Clement to resign over what they say are misleading -- and disparaging -- remarks about the Nickel Capital. The city's mayor is livid about what he says are "intemperate" comments made by the minister and Parry Sound- Muskoka MP. Full Story.
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Greater Sudbury Mayor John Rodriguez hopes the third time is a charm. Rodriguez has issued his third invitation to Industry Minister Tony Clement to visit Sudbury so he can show off the city and explain how its economy has become diversified. Full Story.
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It is difficult to understand why Industry Minister Tony Clement ventured into the Twilight Zone with his comment that Sudbury faced being reduced to a "valley of death," had Brazilian-owned Vale S. A. not bought Inco Ltd. two and a half years ago. There is no upside to these comments for Clement. Full Story
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The following is a letter from Mayor John Rodriguez to Industry Minister Tony Clement dated July 20. Dear Minister, In The Sudbury Star of Saturday, July 18, you were quoted as having said, "There was going to be no buyer, there were going to be no jobs, there weren't going to be any capital investments, there was going to be no employer. That was the Valley of Death that Sudbury faced." Full Story.
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Having actively disparaged the community of Sudbury and having made comments that clearly indicate he sides with the company, Industry Minister Tony Clement should immediately resign his portfolio. "We need a Industry minister that will stand up for Canada and our communities, not attack them and leave them to fend for themselves," said Wayne Fraser, United Steelworkers District 6 Director. Full Story.
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The 10-day-old strike by the 3,000-plus Vale Inco employees is just the latest thing to impact on the cash registers of area businesses. Just ask Sean Crandall, manager at Akfit Fitness Superstore on Barrydowne Road. Full Story.
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Striking members of United Steelworkers Local 6500 are using the words of Vale SA president and chief executive officer Roger Agnelli to bolster their case for being on the picket line since July 13. Local 6500 vice-president Rick Bertrand said he was astonished to read a transcript of a conference held Aug. 11, 2006, when Companhia Vale do Rio Doce, now Vale, was considering purchasing Inco Ltd.
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Few people in Greater Sudbury seem to be willing to support federal Industry Minister Tony Clement's contention that Sudbury faced the prospect of disintegrating into a "Valley of Death," had Vale S. A. not taken over Inco in 2006, but there does seem to be a split among some Conservatives about the relevance of his comments. Full Story.
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It started out as a rally for laid-off Xstrata Nickel workers and striking Steelworkers, but it turned into a get Tony Clement event attended by more than 500 people. Many in the crowd hoisted signs bearing the Industry minister's face crossed out with a large red X and bearing slogans deriding him for his remarks about Sudbury and Vale Inco last week. Full Story.
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Love means never having to say you're sorry. So while Industry Minister Tony Clement loves Sudbury, he isn't quite apologizing for remarks he made about the city and Vale Inco last week. Seven days after saying Sudbury faced becoming the Valley of Death if Companhia Vale do Rio Doce hadn't purchased Inco Ltd. in 2006, Clement called The Star to say he was, well, not sorry exactly. Full Story.
