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Union for striking workers reaches tentative labor deal at Quebec zinc refinery

Reuters - UK Focus

TORONTO, Nov 23 (Reuters) - The United Steelworkers said on Thursday it reached a tentative agreement with Noranda Income Fund on a new labor deal for 371 striking workers at a zinc refinery in Salaberry-de-Valleyfield, Quebec.

Zinc output at the plant, operated by a subsidiary of global mining giant and trader Glencore Plc (Frankfurt: 8GC.F - news) , had dropped to 50 to 60 percent of normal operating levels during the strike, which began on Feb. 12.

Typical (Shanghai: 600302.SS - news) annual zinc production at the plant is 270,000 to 275,000 tonnes.

Traders have closely monitored the labor dispute at North America's second-largest refinery as prices for the zinc, used to rust-proof steel, touched decade-high prices.

Workers, who walked off the job over proposed pension-plan changes, will vote on the agreement on Saturday (Shenzhen: 002291.SZ - news) , the union said. Contract details were not disclosed. (Reporting by Susan Taylor; Editing by Peter Cooney)