Alcoa Corporation (AA), an aluminum mining company, Monday announced the ratification of a new labor agreement with the United Steelworkers or USW at its U.S. smelters for around 965 smelter employees at its Warrick Operations in Indiana and Massena Operations in New York.
The agreement is effective from May 16 through May 15, 2030.
"We are pleased to have reached this outcome and appreciate the efforts of everyone involved in the negotiation and ratification process and remain focused on maintaining safe and reliable operations while serving our customers and communities.", the company said.
Currently AA shares are trading at $65.02, down 5.45% on the New York Stock Exchange.
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