Workers Notify Freeport-McMoRan Of Plan To Strike At Peru Mine-Shanghai Metals Market

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Workers Notify Freeport-McMoRan Of Plan To Strike At Peru Mine

Industry News 03:57:16PM Mar 26, 2010 Source:SMM

LIMA, Mar 25, 2010 (Dow Jones Commodities News via Comtex) -- Workers have notified Freeport-McMoRan Copper and Gold (FCX) they plan to go on strike March 31 at its Sociedad Minera Cerro Verde SAA mine in Peru, the company said Thursday.

Union officials in Peru said workers at Cerro Verde, Peru's third largest copper producer last year, are looking for a one-time bonus from company profits.

"Cerro Verde has paid the legal profit sharing in accordance with Peruvian law and has compensated our employees," said Freeport's director for communications, Eric Kinnegerg, in an email.

Cerro Verde is majority controlled by Freeport McMoRan Copper and Gold, while Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also hold equity stakes.

Production figures from Peru's mining ministry for 2009 show the Cerro Verde mine, in southern Peru, produced 308,370 metric tons of copper. 
 
 

Workers Notify Freeport-McMoRan Of Plan To Strike At Peru Mine

Industry News 03:57:16PM Mar 26, 2010 Source:SMM

LIMA, Mar 25, 2010 (Dow Jones Commodities News via Comtex) -- Workers have notified Freeport-McMoRan Copper and Gold (FCX) they plan to go on strike March 31 at its Sociedad Minera Cerro Verde SAA mine in Peru, the company said Thursday.

Union officials in Peru said workers at Cerro Verde, Peru's third largest copper producer last year, are looking for a one-time bonus from company profits.

"Cerro Verde has paid the legal profit sharing in accordance with Peruvian law and has compensated our employees," said Freeport's director for communications, Eric Kinnegerg, in an email.

Cerro Verde is majority controlled by Freeport McMoRan Copper and Gold, while Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also hold equity stakes.

Production figures from Peru's mining ministry for 2009 show the Cerro Verde mine, in southern Peru, produced 308,370 metric tons of copper.