The Mining Association of Canada (MAC) said in a press release that it was relieved at the news that Canadian Pacific Railway Limited and TCRC-T&E have reached a tentative four-year agreement. MAC also commended the work of federal negotiators and, in particular, the leadership of the Minister of Employment, Workforce Development and Labor, Patricia Hajdu.
"The impacts of a one-day strike will be manageable for Canada's mining sector and intervention by the federal government in support of quick resolution avoids harm to Canada's reputation as a reliable exporter," said Pierre Gratton, MAC's President and CEO.
MAC said a protracted labor dispute would have led to painful rail service disruptions for Canadian mining companies and damaged Canada's reputation as a reliable trading partner, and the national economy.
According to MAC's latest Facts & Figures report, the Canadian mining industry accounts for over 50 percent of the freight revenues of Canada's rail system yearly. The industry is also a key economic driver for the country having contributed $58 billion to Canada's GDP, employed directly and indirectly 596,000 workers, and accounted for 19 percent (>$88 billion) of the total overall value of Canada's exports.