Cliffs, Unions Agree to Contract Extension
Posted at: 08/31/2012 12:33 PM
| Updated at: 08/31/2012 9:36 PM
Cliffs Natural Resources and the United Steelworkers have agreed to an indefinite contract extension.
The current 4-year contract which covers Hibbing Taconite and United Taconite and the two mines in Michigan expires Saturday morning at midnight.
However, because of the extension, business will continue as normal and people will continue to work, even if there's not a new deal in place by the deadline.
The parties have agreed that the Union will not strike and the Company will not lock-out until 48 hours after providing written notice to the other party of their intent to be relased from this no strike/no lockout commitment.
Contract negotiations continue out in Pittsburgh.