Government May End Strike At Peru Mining Company Cerro Verde - Union
25 October 2011 - 1:29AM
Dow Jones News
Peru's government may issue a resolution this week to end an
indefinite strike at Peruvian copper producer Sociedad Minera Cerro
Verde SA (CVERDEC1.VL), a union official said.
Leoncio Amudio, the union's general secretary, said during a
telephone interview on Monday that workers plan to meet with
government officials in Arequipa region today to discuss a
solution.
Union workers at Cerro Verde, Peru's third biggest copper
producer, walked off the job on Sept. 29 to demand higher pay amid
negotiations for a new collective agreement.
The union is seeking a resolution from the government to resolve
the dispute following 16 unsuccessful negotiations with the
company, Amudio said.
Amudio said union workers are planning to hold various marches
this week in Arequipa to pressure for a solution.
Cerro Verde 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.
-By Ryan Dube, Dow Jones Newswires; 51-945 043 802;
peru@dowjones.com
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