Peru's Cerro Verde Copper Mine Workers To Strike Wednesday
30 März 2010 - 3:58PM
Dow Jones News
Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.Vl) told
the Peruvian securities regulatory agency Tuesday that unions at
the copper miner plan to strike Wednesday to back demand for a
greater share of profits.
"Cerro Verde has complied with the legal distribution of profits
in accordance with Peruvian law and we have compensated our workers
in line with the terms of the collective agreement that the workers
signed," Cerro Verde said.
It also said the (Ministry of Labor's) Regional Director in the
Arequipa region has declared any strike at Cerro Verde to be
without legal grounds.
"The union can appeal this resolution, but if the Regional
Director confirms it, then the strike could be declared illegal,"
the company said.
If a strike is declared illegal, the workers have to return to
work or face being fired.
Freeport-McMoRan Copper & Gold (FCX) has a majority holding
in Cerro Verde.
Production figures from Peru's mining ministry for 2009 show the
Cerro Verde mine, in southern Peru, produced 308,370 metric tons of
copper.
-By Robert Kozak, Dow Jones Newswires; peru@dowjones.com;
51-1-99927 2769
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