* Unionized workers get 14.75 pct pay raise over 4 years
* Shares up 2.54 percent at C$32.35
TORONTO Nov 1 Shares of Cameco (CCO.TO) rose
more than 2 percent on Monday after the uranium producer said
unionized workers at two of its key operations had accepted a
new four-year labor contract.
Workers at the McArthur River mine and Key Lake mill voted
in favor of the contract that gives them a 14.75 percent wage
increase over four years, Cameco said.
The MacArthur and Key Lake operations, located in the
western Canadian province of Saskatchewan, account for more
than 10 percent of global uranium production.
The unionized employees at the operations had worked
without contract since December of 2009.
The new contract could weigh on spot uranium prices, which
have risen steadily since early August. Uranium cost $52.00 a
pound on Tuesday of last week.
Cameco shares were up 2.54 percent at C$32.35 on Monday in
midday trade on the Toronto Stock Exchange.
(Reporting by Julie Gordon)