Labour Dispute on the North Shore - A New Agreement in Principle Reached Between ArcelorMittal and the Five Local Unions of the United Steelworkers

LONGUEUIL, QC, June 5, 2021 /CNW Telbec/ - ArcelorMittal Mines and Infrastructure Canada ("ArcelorMittal") and the executives of the five local unions of the United Steelworkers reached an agreement in principle for the renewal of their collective labour agreement.

The last round of negotiations, held in the presence of a conciliator named by the Minister of Labour, Employment and Social Solidarity, resolved the remaining outstanding issues and led to reaching an agreement in principle. The President and Chief Executive Officer of ArcelorMittal Mining Canada and Chairman of the Management Committee of ArcelorMittal Infrastructure Canada, Mr. Mapi Mobwano, took part in these latest negotiations.

Provided that the members of the five local unions of the United Steelworkers ratify the agreement in principle, the collective labour agreement will be renewed for a period of four years. ArcelorMittal will therefore be able to provide stability for all its employees and business partners.

"We are pleased with this outcome, which is the result of the efforts of both parties at the negotiating table and the work of the conciliator. We leave it to the executives of the five local unions to present to their members the details of the agreement in principle to be ratified and we are hopeful to be able to turn the page on this conflict," declared Mapi Mobwano.

As part of its Transformation project launched in 2020, ArcelorMittal intends to increase its commitment to actively support the vitality of the communities of Fermont and Port-Cartier, and projects to that effect have been underway for several months with local stakeholders.

ArcelorMittal Mines and Infrastructure Canada is an essential link in the entire chain of steel production, in Québec and elsewhere in the world, and the economic benefits of its presence in Québec are substantial: the company spends about CA$1.25 billion in the province each year and its contribution to the provincial GDP is around CA$1 billion. ArcelorMittal Mines and Infrastructure Canada generates more than 8,300 direct and indirect jobs in Québec. ArcelorMittal is also the company that has paid, by far, the most mining royalties to the Quebec government in 2020, that is CA$234 million.

About ArcelorMittal Infrastructure Canada G.P.
and ArcelorMittal Mining Canada G.P.

Subsidiaries of ArcelorMittal, the world's leading steel and mining company and among the top five producers of iron ore products globally, ArcelorMittal Infrastructure Canada G.P. ("AMIC") and ArcelorMittal Mining Canada G.P. ("AMMC") are two complementary entities operating on Quebec's North Shore. AMIC ensures the transport of concentrate between Mont-Wright and Port-Cartier, and operates a seaport in Port-Cartier to transport and ship AMMC's products to four continents. AMMC produces iron oxide concentrate and pellets for the steel market. The two companies employ approximately 2,500 people, making ArcelorMittal the largest employer in the North Shore region.

SOURCE ArcelorMittal Exploitation minière Canada s.e.n.c.