The president of the union representing workers at the idled Wabush Mines operation says a contract approved by members Thursday night means good things for employees who are still uncertain about the fate of the mine.

On Thursday, union members said they voted in favour of a 5-year contract with MFC Industrial that would see them working at the site, if the company did in fact purchase the operation from Cliffs Natural Resources.

Jason Penney, USW Local 6285 president, said the potential sale to MFC Industrial is good news for the people still looking for work following the mines closure.

While Penney wouldn't confirm or comment on Thursday's union contract, he said workers are feeling good about the future of the mine.

"Everybody's very happy that there finally might be some light at the end of the tunnel. When you're facing the possibility here in Lab West of not having a job when there's opportunity, well hey, what else is there to say?" said Penney.

"We've been updating our members and it seems that everything is looking positive. People are optimistic that we're going to get back into operation and we'll have some chance for a future here in Wabush," he said.

Cliffs idled the mine in February, citing high production costs. The actual sale of the mine has yet to be confirmed.