Workers At Peru's Cerro Verde Copper Mine Start Strike
September 14 2011 - 8:50AM
Dow Jones News
Unionized workers at Peruvian copper mining company Sociedad
Minera Cerro Verde SA (CVERDEC1.VL) started an indefinite strike
Wednesday to seek higher pay, Luis Castillo, president of the
National Mining Federation, said in a telephone interview.
Workers at Cerro Verde held a 48-hour strike last week to demand
higher wages. The company said that work stoppage didn't affect
production.
Cerro Verde is one of Peru's biggest copper miners. In the
second quarter of this year, it turned out 170 million pounds of
copper, compared to 166 million pounds in the same period last
year.
Cerro Verde is majority-controlled by Freeport-McMoRan Copper
& Gold Inc. (FCX) 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 Robert Kozak, Dow Jones Newswires; 511-99927 7269;
peru@dowjones.com
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