Peruvian copper producer Sociedad Minera Cerro Verde SA (CVERDEC1.VL) said Thursday that it has signed a collective agreement with unionized workers.

The agreement was signed late Wednesday and is valid until Aug. 31, 2014, Cerro Verde said in a statement.

On Nov. 30, union workers at Cerro Verde ended a strike that dragged on for more than two months to back demands for higher pay, among other benefits.

"We now look forward to continued safe production and future expansion opportunities at Cerro Verde," the company said.

Cerro Verde is Peru's third biggest copper producer. It produced 157 million pounds of copper in the third quarter of this year, down from 165 million pounds in the third quarter of 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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