On Monday, February 1, Stillwater Mining Co. announced that union employees, represented by the USW International Union, at its Stillwater mine and Columbus processing facilities, have ratified a new four-year labor agreement.

Union employees agreed to no increase in base wages for the first two years and a simplification of the incentive program and introduction of metrics that “better align employee and shareholder outcomes.” The new agreement is effective from June 2, 2015.

“I would like to thank the negotiating teams from the company and the union in addition to the Stillwater mine and Columbus processing facilities’ employees for their efforts in reaching this agreement,” said Mick McMullen, president and chief executive officer. “I believe this agreement represents a reasonable outcome for all stakeholders in this challenging metal price environment.”