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PLATINUM GROUP METALS
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JUNIOR MINING
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MINING FINANCE
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Nearly 500 members of the USW went on strike at PotashCorp mines after four days of mediation was unable to resolve contract issues centering on profit-sharing demands by the union.
Author: Dorothy KosichRENO, NV -
The Potash Corporation of Saskatchewan announced that 487 unionized employees at its Allan Division, Cory Division and Patience Lake Division potash operations-all based in Saskatchewan-went on strike as of 5:30 p.m. Thursday.
The United Steelworkers and PotashCorp had met with Ontario mediator Vic Pathe earlier this week to try to resolve a dispute that has led to a ban on overtime at the three potash mines. The dispute involves members of USW Locals 7458, 189 and 769, who rejected a contract offer that they felt did not address key issues, including control over outside contractors, pensions, wages, vacation and bonus.
The unions argue that record potash prices have generated record earnings for PotashCorp. "Although PCS is receiving far more profit per worker than most mining companies, it pays wages lower than many other major Canadian mining operations," the USW said in a recent news release.
PotashCorp President and CEO Bill Doyle said, "While we are disappointed by the decision of union leadership to strike, we remain committed to operating with a long-term view. We will manage our assets responsibly and protect our future cost structure so that we remain competitive within the global arena. We have offered a top-end contract in the Saskatchewan market that will make our employees the higher-paid miners in the North American potash industry. We believe our offer rewards our workers' important contributions, while protecting the future of our company for all stakeholders, including our employees.
PotashCorp is the world largest fertilizer enterprise producing the three primary plant nutrients and a leading suppliers to agricultural and industrial markets.
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