ST: Copper and iron ore miners in Peru set to strike
Reuters reported that workers at the Shougang Hierro Peru iron mine and Cerro Verde copper mine will go on strike next week to demand better wages and a larger share of profits.
Union leaders said that miners at Shougang Hierro Peru will put down tools on March 29th 2010, while workers at Cerro Verde will strike on March 31st 2010.
Cerro Verde, controlled by the US based miner Freeport McMoran Copper and Gold is one of Peru's largest copper pits. Cerro Verde operates a mine in Arequipa about 445 miles southeast of Peru's capital of Lima.
Peru's laws said that mining companies must share 8% of their profits with employees and union leaders accuse companies of underreporting earnings.
Mr William Camacho union leader for Cerro Verde said that the strike is indefinite. This is about profits. This year the company has cut our profits arguing the fall in copper prices and the faster depreciation of its equipment.
