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Strike Continues At Peru's Cerro Verde Copper Mine
Sep 19,2011 10:05CST
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Source:SMM
Union workers at Peru's Cerro Verde Copper Mine continued a strike Friday as they seek higher pay from one of the country's biggest copper producers.

LIMA, Sep 16, 2011 (Dow Jones) -- Union workers at Peruvian mining company Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) continued a strike Friday as they seek higher pay from one of the country's biggest copper producers, union leader Leoncio Almudio said.

Almudio said that the government had scheduled a meeting for Friday between the union and the company but workers did not plan to attend. He said union demands and company offers are "very far apart."

Workers walked off the job indefinitely on Wednesday after holding a 48-hour strike last week.

Cerro Verde is Peru's third biggest copper producer and turned out 668 million pounds of copper in 2010, compared to 662 million pounds in the prior year.

A spokesperson for Cerro Verde was not immediately available for comment.

Cerro Verde is majority-controlled by Freeport-McMoRan Copper & Gold (FCX). Compania de Minas Buenaventura SA (BVN, BUENAVC1.VL) and a subsidiary of Sumitomo Corp. (SSUMY, 8053.TO) also have stakes in the company.
 

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