HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Vale's Voisey's Bay workers reject contract offer

Re: Vale's Voisey's Bay workers reject contract offer

posted on Jul 09, 2009 10:00AM

The vote at Voisey's Bay was 99% in favour of a strike.

The demographics in Voisey's Bay are completely different than in Sudbury.

They are all low service younger employees and a lot are native.

In Sudbury, Vale has offered everyone with 30 years service $20,000 to retire and lowered pension eligibility to 27 YEWPS.

30% of the work force has under 5 years service...many have BIG mortgages.

In order for Vale Inco to survive in Sudbury the culture has to change. If Vale can not get an honest days work out of the work force, they will shut down the operation.

The only way the culture can change is to get rid of the old guard and the current union executive.

Most of the older management types have been fired or pensioned off already. Even the President was fired.

Management were mostly ineffective and resembled the leadership of the civil service.

The current union leaders are older and will not survive this strike.

The local union leaders are mostly nice guys but have no interest or concern for efficiency. They can not seem to understand why the company should fight against the costly and inefficient contract language they have imposed over the years.

I am not taking sides but many of the non-monetary changes in the contract language are long overdue as they are way too inefficient and costly.

The nickel bonus is far too rich with the lowest paid workers earning over $100,000. Many of the people who actually do the mining and trades work earn over $150,000.

Even summer students are paid these elevated rates including bonus.....even though they have little, experiece, training or skills.

We are expecting a strike vote but it will not be 99%.

If the vote is relatively close (under 60%), there may be another slightly improved offer in 3 months.

If the strike vote is over 60%, there will be no further offers or production at Sudbury in 2009. In fact 2010 will also be doubtful.

THe question here is who is pickng who's pocket?

SN

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