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Vale Inco, a subsidiary of Brazilian mining company Companhia Vale do Rio Doce (RIO), has reached a deal with unions at its Ontario nickel operations to extend a labor agreement until July 12, a company spokesman said Thursday.
The extension is timed to coincide with the restart of its Sudbury mine and Port Colborne processing facilities in Ontario on July 27, said Cory McPhee.
Vale's Ontario operations have been under maintenance in May and are to be shut from June 1 to July 27 because of low prices.
The labor agreement between Vale and United Steelworkers Local 6500 was to expire May 31.
McPhee said the July 12 deadline was chosen because furnaces need to be heated two weeks in advance of the July 27 restart for operations to begin.
-By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412; matthew.walls@dowjones.com
(END) Dow Jones Newswires
05-28-09 1216ET
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