Platinum producer Stillwater Mining has revealed that it has reached an agreement with mining union USW International over the terms of a new labour deal.

The move means that the company will be able to continue its operations without disruption, as the previous deal has also been extended until July 11th to give the parties time to negotiate a new deal.

Last week, the union's members rejected a tentative agreement reached between Stillwater and the union's officials, just days before the previous agreement had been due to run out on July 2nd.

With that deadline looming, the parties went back to the negotiating table and, following the agreement to postpone the end of the current contract, the two sides have now hammered out a new deal.

Stillwater has not given any information on the terms of the deal, but has warned that the agreement with the union's officials still has to be agreed by USW's membership, meaning that there is still "no assurance at this time that the agreement will be approved", according to the platinum miner.

Source:

Agreement Reached on Labor Contract at Stillwater Mine and Processing Facilities, 02/07/07
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