Peru's Cerro Verde SAA Union Says Strike To Start January 14
10 Januar 2011 - 12:25AM
Dow Jones News
Unionized workers at copper miner Sociedad Minera Cerro Verde
SAA, (CVERDEC1.VL) controlled by U.S.-based Freeport-McMoRan Copper
& Gold Inc. (FCX), on Sunday published a statement saying they
plan to start an indefinite strike from January 14.
The statement said that the workers belonging to the Sindicato
Unico de Trabajadores de Cerro Verde will strike "due to the
negative behavior of the company in solving labor problems that
have been generated."
Late Friday, Cerro Verde told Peru's securities regulatory
agency Conasev that it had been officially notified by the union of
its plan to strike.
The company said that it will "work jointly with the union to
deal with concerns and to reach mutually agreeable solutions."
Union officials said last week that there were at least six
outstanding points in the collective agreement that the union says
weren't being complied with. Those include transportation of
workers and having the company comply with overtime payments.
In the third quarter, Cerro Verde produced 164.8 million pounds
of copper, compared with 160.9 million pounds in the same quarter
of the previous year.
Compania de Minas Buenaventura SAA (BVN) and a subsidiary of
Sumitomo Corp. (SSUMY) also have equity stakes in the company.
The mine is in southern Peru.
-By Robert Kozak, Dow Jones Newswires; 51-99927 7269;
peru@dowjones.com
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