April 18, 2018 / 2:40 PM / 4 months ago

BUZZ-Labrador Iron Ore Royalty: Says IOC labor agreement rejected

** Shares of royalty company down 5.6 pct C$21.78 - set for worst day in three weeks

** Says been notified workers rejected new labor agreement made by Iron Ore Company of Canada in which LIF has an equity stake

** Some 1,300 unionized workers have walked off the job since March 27 after rejecting the company’s final contract offer

** LIF, which gets royalty and commission from products made, sold and shipped by IOC, has said its revenue will be hurt due to the ongoing strike

** LIF shares have fallen 4.5 pct since the strike started three weeks ago (Reporting by Yashaswini Swamynathan in Bengaluru)

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