Peru Miners to Commence Two-day Nationwide Strike

18 October 2009 (Last Updated October 18th, 2009 18:30)

Workers from more than a dozen mining companies in Peru will commence a two-day nationwide strike today demanding more shares and benefits. Mining Federation general secretary Luis Castillo said miners will stop working from 1am New York time, according to Bloomberg. Th

Workers from more than a dozen mining companies in Peru will commence a two-day nationwide strike today demanding more shares and benefits.

Mining Federation general secretary Luis Castillo said miners will stop working from 1am New York time, according to Bloomberg.

The Mining Federation, which comprises 70 unions and 28,000 workers, is urging Peru’s Congress to raise the miners' profit share from 8% to 10% and reduce the age of miners who are eligible for pension from 55 years to 50 years.

Peru’s Labor Ministry said it will consider the strike as unlawful, allowing companies to expel striking workers.

Unions will participate in the strike today at mines run by Newmont Mining, Freeport-McMoRan Copper & Gold, Pan American Silver, Cia. de Minas Buenaventura SAA, Hochschild Mining, Minsur SA tin mine, Cia. Minera Milpo, Volcan Cia. Minera, and Cia. Minera Atacocha.

Unions at other mines run by Xstrata, Southern Copper and Cia. Minera Antamina might participate in the strike later today, Castillo said.

In the past, Peruvian mining companies such as Cerro Verde have stockpiled concentrates before strikes to fulfil delivery contracts.

Over the past two years, Peruvian miners have declared three national strikes, demanding a larger part of earnings after copper surged to $4.2605 a pound in May 2008.