IOC workers reject two-tier retirement plan

The 305 mine workers of the Iron Ore Company of Canada (IOC) in Sept Iles, Que., voted 99.2 per cent in favour of a strike mandate Thursday, rejecting requests for concessions from the mining company, which wants to install a two-tier retirement program.

The workers contend that the retirement program disadvantages new workers.

The workers have also demanded that a portion of their vacation be considered paid leave instead of vacation days.

The IOC is majority owned by Rio Tinto, while Japan’s Mitsubishi owns 26 per cent.

(Reuters)