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Sunday, July 12, 2026

Brazil Business - Brazil

Striking Sudbury nickel miners’ union members reject new offer from Brazilian owner Vale S.A.

By · June 15, 2021 · 2 min read

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RIO DE JANEIRO, BRAZIL – Members of a union representing striking workers from Vale SA’s Sudbury, Canada, nickel mine have rejected the Brazilian company’s latest offer, urging it to commit to “good-faith” talks to settle the strike.

USW Local 6500 members voted by an 87% majority to reject Vale’s second offer in two weeks, the union said. The offer was not that different to the earlier one that had sparked the strike on June 1, it said.

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The 2,500 workers at the mine walked off the job on June 1, complaining about plans to cut health and medical benefits for retirees as well as minimal wage increases.
The 2,500 workers at the mine walked off the job on June 1, complaining about plans to cut health and medical benefits for retirees as well as minimal wage increases. (Photo internet reproduction)
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The union had recommended its members reject the Brazilian company’s latest offer, saying it made only “minimal improvements.”

The 2,500 workers at the mine walked off the job on June 1, complaining about plans to cut health and medical benefits for retirees as well as minimal wage increases.

“Vale wants to lower the standard of living for retirees in our community,” United Steelworkers Local 6500 President Nick Larochelle said in a statement.

“Eliminating post-retirement health benefits from other staff is not a justification to take away these benefits from workers who are exposed to toxic and hazardous substances throughout their careers and who often develop serious illnesses and medical conditions in retirement.”

Vale Canada said it was disappointed by its offer being turned down by union members. The company said earlier that its second offer had attempted to addresses issues of concern to workers including wages, pensions and post-retiree benefits.

“Our offer was a genuine and sincere attempt to address the issues brought forth by the Union’s bargaining committee in the most recent round of discussions. Clearly, we remain apart on important issues”, the company said in a statement.

Vale was obliged to halt the mine after the workers rejected its initial offer. USW Local 6200, which represents employees at its separate Port Colborne refinery, favored the proposed deal.

The Brazilian miner is trying to turn around its Ontario operations to lure investments in new sources of ore, the company added.

Source: Reuters

Live Company IntelligenceVale SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
Rio Times · Live Ticker Intelligence
Vale SA ADR
VALE3 · B3 São PauloBasic MaterialsOther Industrial Metals & Mining
Share price · live
$74.18
▲ +1.41% today
Market cap
$61.6 bn
4.3 bn shares
P / E
21.9
EPS 0.66
Dividend yield
38.5%
$1.26 / share
The company
Employees
65,805
Headquarters
Rio De Janeiro
Listed since
2002
Website

Vale S.A., together with its subsidiaries, produces iron ore and nickel in Brazil, Asia, the Middle East, North Africa, Europe, the Americas, and Oceania. The company operates in two segments, Iron Ore Solutions and Vale Base Metals. It extracts, produces, and distributes iron ore, iron ore…

Financial performance · FY · BRL
RevenueNet income
2023
R$41.8 bn
R$8.0 bn
2024
R$38.1 bn
R$6.2 bn
2025
R$38.2 bn
R$2.5 bn

Net income declined to R$2.5 bn in 2025, from R$8.0 bn in 2023.

Valuation & returns
EBITDA margin
36.3%
Net margin
7.3%
Return on equity
6.8%
Price / book
1.63
Enterprise value
$150.8 bn
Revenue growth · YoY
+2.7%
Latest earnings
Q1 2026 — reported EPS 0.44 vs 0.50 expected
Missed −12%
Peers & comparators
CSNA3
▲ +7.92%
CMIN3
▲ +8.28%
IRON ORE
Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

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