Union employees at Stillwater Mining's East Boulder platinum group metals mine in Montana have ratified a new four-year labor agreement, the US miner said Wednesday.
The effective date of the new agreement is January 1, 2016.
"The new agreement essentially rolls forward the previous contract. The contract includes a provision for no increase in base wages for each of the first two years of the agreement and other minor modifications," said Mick McMullen, the company's president and CEO, in a statement.
"I believe this new agreement represents a reasonable outcome for all stakeholders in this challenging metal price environment," he added.
Workers represented by the USW International Union Local 11-0001 ratified a tentative agreement in voting held Monday and Tuesday.
Stillwater is the only US miner of platinum group metals and the largest primary producer of PGMs outside of South Africa and the Russian Federation.
In the first nine months of this year the company produced 300,500 oz of palladium and 87,900 oz of platinum from its two mines in Montana.
