Champion Iron's new collective agreement with Bloom Lake unionized workers

Champion Iron Limited (ASX: $CIA) has announced the ratification of a new 5-year collective bargaining agreement (CBA) with its unionized employees at the Bloom Lake mine, representing approximately 63% of the workforce. The agreement, ratified on February 29, 2024, provides additional stability for the workforce, the community, and the Company, ensuring a strong and mutually beneficial partnership with the employees.

Executive commentary on the new collective agreement

The CBA, which provides additional stability for our workforce, the community and our Company, ensures we maintain a strong and mutually beneficial partnership with our employees. The CBA balances the need to remain competitive by attracting the best talent while also ensuring our Company can navigate uncertain economic environments. This significant milestone enables our Company to continue to positively impact local communities as we deploy our vision to be a leader in the green steel supply chain.

Summary of Champion Iron's announcement

Champion Iron Limited has successfully ratified a new 5-year collective bargaining agreement with its unionized employees at the Bloom Lake mine, providing additional stability for the workforce, the community, and the Company. The agreement ensures a strong and mutually beneficial partnership with the employees, allowing the Company to maintain competitiveness and navigate uncertain economic environments. Champion Iron's vision to be a leader in the green steel supply chain is further supported by this significant milestone, enabling continued positive impact on local communities.