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Strikes Ended At Peru Copper, Iron Mines

Industry News 09:12:30AM Apr 02, 2010 Source:SMM

LIMA, Apr 01, 2010 (Dow Jones Commodities News via Comtex) -- Workers ended strikes Thursday at Peru's Cobriza copper mine and Shougang Hierro Peru SAA (SHPC1.VL), the country's only iron mine.

The strike at the Cobriza copper mine, owned by Doe Run Peru, a unit of U.S.-based Renco Group Inc., started March 23. It was resolved late Wednesday after Doe Run agreed to give workers a wage bonus, said Luis Castillo, general secretary of Peru's National Federation of Mining. The Cobriza mine was Peru's sixth largest last year, when it produced 18,519 metric tons of copper.

On Tuesday, Doe Run said the Cobriza strike was endangering a "prompt restart" of its smelter operations, closed since June. The smelter normally produces copper, lead, zinc and smaller amounts of other metals.

The strike at the Shougang iron mine, which produced 4.4 million tons in 2009, according to mining ministry figures, started last Monday.

"Everything is getting back to normal and meetings with the workers will continue," said Raul Vera, Shougang manager.

Meanwhile, an ongoing strike at a gold mine owned by Compania de Minas Buenaventura SAA could also be lifted later Thursday, Castillo said.

The strike at the Orcopampa gold mine, which produced about 301,000 ounces of gold last year, according to mine ministry figures, started Saturday.

All of the strikes are related to workers' demands for a greater share of company profits.

Peru is the world's largest producer of silver, the second largest producer of copper and the sixth largest producer of gold. It also produces large amount of other minerals, such as zinc, tin and molybdenum.
 

Strikes Ended At Peru Copper, Iron Mines

Industry News 09:12:30AM Apr 02, 2010 Source:SMM

LIMA, Apr 01, 2010 (Dow Jones Commodities News via Comtex) -- Workers ended strikes Thursday at Peru's Cobriza copper mine and Shougang Hierro Peru SAA (SHPC1.VL), the country's only iron mine.

The strike at the Cobriza copper mine, owned by Doe Run Peru, a unit of U.S.-based Renco Group Inc., started March 23. It was resolved late Wednesday after Doe Run agreed to give workers a wage bonus, said Luis Castillo, general secretary of Peru's National Federation of Mining. The Cobriza mine was Peru's sixth largest last year, when it produced 18,519 metric tons of copper.

On Tuesday, Doe Run said the Cobriza strike was endangering a "prompt restart" of its smelter operations, closed since June. The smelter normally produces copper, lead, zinc and smaller amounts of other metals.

The strike at the Shougang iron mine, which produced 4.4 million tons in 2009, according to mining ministry figures, started last Monday.

"Everything is getting back to normal and meetings with the workers will continue," said Raul Vera, Shougang manager.

Meanwhile, an ongoing strike at a gold mine owned by Compania de Minas Buenaventura SAA could also be lifted later Thursday, Castillo said.

The strike at the Orcopampa gold mine, which produced about 301,000 ounces of gold last year, according to mine ministry figures, started Saturday.

All of the strikes are related to workers' demands for a greater share of company profits.

Peru is the world's largest producer of silver, the second largest producer of copper and the sixth largest producer of gold. It also produces large amount of other minerals, such as zinc, tin and molybdenum.