Tentative Labor Agreement Reached at Cliffs Natural Resources

Lourenco Goncalves, Chairman, President and CEO, stated, “We are pleased to reach a new labor contract that is fair and equitable to both parties, and provides Cliffs a competitive cost structure for future success. This agreement once again reinforces that we have more in common with the USW than we have differences, and we look forward to continuing our strong partnership.”

Union members at the mines have been working under terms of the expired contracts since October 1, 2015. The new contract will be retroactive to that date and expire Oct. 1, 2018.

“After more than a year of difficult negotiations, our committee’s hard work and dedication have resulted in a tentative agreement,” said USW International President Leo W. Gerard. “Our members’ and retirees’ strength and solidarity throughout the bargaining process have been rewarded.”

USW District 11 Director Emil Ramirez said the contact “preserves wages, benefits and other longstanding rights and protections without lower the standards of current workers or retirees.”

The USW will discuss terms of the agreement with local districts and begin the ratification process.