Similco strike over

The recent vote in favor of a new collective agreement ends a 4.5-month strike at the Similco open pit copper mine near Princeton, B.C.

The mine is owned by Princeton Mining (TSE). Employees will be recalled to work beginning Oct. 17, with production expected to resume on Oct. 21. The new agreement gives employees an average increase of about 5% per year over the term of the contract which runs to March 31, 1994. The package also includes an enhancement of the pension plan for past service to be paid from a percentage of future cash flow.