Taseko Mines (TSX: TKO) is set to resume mining operations at its Gibraltar mine in British Columbia, following the ratification of a new tentative agreement with employees. The mine had seen operations halted on June 1 after workers went on strike.
Workers are said to have been recalled, with mining and milling operations at concentrator #2 set to resume today. Operations at concentrator #1 meanwhile is to remain idled temporarily while scheduled maintenance and the relocation of a crusher is completed.
The resumption follows Unifor Local 3018 agreeing to significant wage increases and equity measures under a new three year agreement. Wages are set to increase 13% over the life of the contract, while additional transparency is to be brought in during the disciplinary process among other changes.
The Gibraltar coppy-molybdenum mine is the second largest open pit copper mine in Canada, with the union representing 550 workers at the mine. The mine is expected to produce 115 million pounds of copper this year.
Taseko Mines last traded at $3.52 on the TSX.
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