Strike at Iron Ore Co may come to an end
According to recent news in the market, United Steelworkers of America (USWA) representing workers at
Iron Ore Corp of
Canada announced that talks with
Rio Tinto may start on Monday to end five-week strike at
Iron Ore Corp, a subsidiary of
Rio Tinto. The number of workers participating in the strike is stated to be 1'400.
A spokesman of USWA said that since they will come face to face with
Rio Tinto officials for the first time, it is too early to comment on the course of talks.
Iron Ore Co, which is 59% owned by
Rio Tinto, produced 12 million tons of
iron ore pellets in 2003 however contributed just $7 million to
Rio Tinto's 2003 earnings of $1.5 billion.