New contract at Port Hope refinery

Union members at Cameco’s (TSE) uranium refining operation in Port Hope, Ont., have ratified a new collective agreement.

The 3-year contract provides for an immediate wage increase averaging 4% and average increases of 3.3% and 3.5% in the second and third years respectively. Cameco will make a lump sum payment to qualifying employees, in lieu of pay retroactive to June 30, when the previous contract expired. Employee benefits have also been improved.