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Striking Workers At Peru's Cerro Verde Copper Mine In Talks
Wednesday, June 11, 2008 10:05 AM



LIMA -(Dow Jones)- Striking workers at Peruvian base metals miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) were in talks on Wednesday, aiming to end the walkout that started Tuesday.

"The strike continues, but there are talks going on with the Ministry of Labor," said Luis Castillo, secretary general of Peru's National Federation of Mining, Metallurgy and Steel Workers.

The workers walked out to back various demands.

Cerro Verde (Lima:CVERDEC1) , which is majority controlled by Freeport McMoRan Copper & Gold (NYSE:FCX) ( FCX), operates the mine in southern Peru.

The company has said that operations are continuing normally, according to a report in newspaper El Comercio on Wednesday.

Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (Tokyo:8053) ( 8053.TO) also have equity stakes in the company.

Cerro Verde's (Lima:CVERDEC1) first-quarter copper production was 75,370 tons, a 48% increase compared with the first quarter of last year.

-By Robert Kozak, Dow Jones Newswires; 511-221-7050; peru@dowjones.com

    (END) Dow Jones Newswires   06-11-08 1005   Copyright (c) 2008 Dow Jones & Company, Inc. 
(Source: iStockAnalyst )


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