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Strike To Go Ahead At Peru Mining Company Cerro Verde - Union
Sep 29,2011 09:50CST
industry news
Source:SMM
A strike at Peruvian copper mining company Sociedad Minera Cerro Verde SA (CVERDEC1.VL), the country's third-biggest copper producer, is scheduled to go ahead on Thursday, a union official said.

LIMA, Sep 28, 2011 (Dow Jones) -- A strike at Peruvian copper mining company Sociedad Minera Cerro Verde SA (CVERDEC1.VL), the country's third-biggest copper producer, is scheduled to go ahead on Thursday, a union official said.

Leoncio Amudio, the union's general secretary, told Dow Jones Newswires on Wednesday that talks between the union and company had been unsuccessful in averting the walk-out.

The strike will be the third walk-out by workers this month as they seek higher pay amid negotiations for a new collective agreement.

Cerro Verde operates in southern Peru's Arequipa region. It produced 345 million pounds of copper in the first half of this year, compared to 331 million pounds in the same period in 2010.

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

Peru is the world's second-biggest copper producer.


 

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