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Workers at Canada's Iron Ore Company reject two-tier retirement plan

Reuters

(Reuters) - The Iron Ore Company of Canada (IOC) said on Thursday its workers in Sept Iles, Quebec have rejected requests for concessions from the mining company, which wants to install a two-tier retirement program.

The 305 mine workers voted 99.2 percent in favour of a strike mandate, to be exercised when they see fit, arguing that the retirement program disadvantages new workers.

The workers also demanded that a portion of their vacation be considered paid leave instead of vacation days.

The IOC is majority owned by Rio Tinto (RIO.AX) (RIO.L), while Japan's Mitsubishi owns 26 percent.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)