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Name | Symbol | Market | Type |
---|---|---|---|
Sumitomo Corp (PK) | USOTC:SSUMY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.45 | -6.19% | 21.96 | 21.72 | 22.31 | 23.00 | 21.70 | 23.00 | 108,575 | 21:02:29 |
Workers at Peruvian copper producer Sociedad Minera Cerro Verde SA (CVERDEC1.VL) are continuing with their strike and say they are examining ways to put more pressure on the company to meet their demands, a top union official said.
Union leader Leoncio Amudio said in a telephone interview Wednesday that there are no negotiations underway to end the walkout that began on Sept. 29 to back demands for higher wages and other things.
"The strike continues," Amudio said.
The company has said it is willing to continue negotiating a new labor contract to replace the one that expired on Aug. 31. It has continued to operate facilities with supervisors and personnel that volunteered to work under strike conditions.
Amudio said the union is pressing for labor inspectors to declare that the company isn't complying with regulations, aiming to paralyze production.
He added that workers could start hunger strikes to back their demands.
Cerro Verde produced 170 million pounds of copper in the second quarter of this year, up from 166 million pounds in the same period in 2010.
Freeport-McMoRan Copper & Gold Inc (FCX) has a majority stake of Cerro Verde. Compania de Minas Buenaventura SAA (BVN, BUENAVC1.VL) and a subsidiary of Sumitomo Corp. (SSUMY, 8053.TO) also have an interest in the company.
-By Robert Kozak, Dow Jones Newswires; 51-1 99927 7269; peru@dowjones.com
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