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Freeport Cerro Verde Miners End Stoppage, May Strike Again
Sep. 19, 2011 10:14AM PST
Base Metals Investing Bloomberg reported that Peruvian copper miners at Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) are likely to go on strike again next week after ending a four-day work stoppage over the weekend.
Bloomberg reported that Peruvian copper miners at Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) are likely to go on strike again next week after ending a four-day work stoppage over the weekend.
The market news is quoted as saying:
Workers at Freeport’s Sociedad Minera Cerro Verde SAA (CVERDEC1) mine ended the strike Sept. 17 after it was declared illegal by the government and clashes with police wounded six workers, union General Secretary Leoncio Amudio said. Government-brokered talks aimed at a one-year accord are set to resume today, Amudio said. The strike may restart on Sept. 27, he said.
Workers in Peru, Chile, Bolivia and Indonesia have walked off their jobs at copper, gold and zinc mines this year, seeking better working conditions and a larger percentage of record profits. Miners at Cerro Verde held a 48-hour strike earlier this month and Freeport’s Grasberg copper and gold mine in Indonesia began a month-long strike Sept. 15.
