SALABERRY-DE-VALLEYFIELD, Québec, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Noranda Income Fund (TSX:NIF.UN) (the “Fund”) announces that the unionized employees at its processing facility voted in favour of a new collective agreement effective from December 1, 2017 to November 30, 2023, terminating the strike that was initiated on February 12, 2017. The processing facility’s unionized employees are members of Local 6486 of the United Steelworkers of America (Metallos).
The Fund’s manager will begin to bring the unionized employees back into the processing facility’s operations in the coming weeks, and will then work towards returning to normal operating capacity.
Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the "Processing Facility") located in Salaberry-de-Valleyfield, Québec. The Processing Facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation.
Further information about Noranda Income Fund can be found at
www.norandaincomefund.com.
For further information, please contact:
Michael Boone
Vice President and Chief Financial Officer, Canadian Electrolytic Zinc Limited
Noranda Income Fund's Manager
416-775-1561
info@norandaincomefund.com