BNAmericas cited Mr Leopoldo Monzón an advisor to the mines and energy ministry as saying that the strike at US based Freeport McMoRan Copper & Gold's 53.7% controlled Cerro Verde copper mine in Peru will be over by November 28th 2011 if not before. The government wants the dispute at Cerro Verde to be over as soon as possible.

Mr William Camacho union official said that the striking workers have decided to no longer negotiate with the company and will wait for a government-brokered agreement. We will negotiate a year-long contract with the government, not with Cerro Verde. How soon the strike will be called off depends on how fast the labor ministry can draw up a proposal.

Workers at Cerro Verde walked off the job on September 29th 2011. Among other benefits, they were looking for an 11% wage increase. Following negotiations with the company workers dropped demands to 6% to 7% pay raise in the first year and 5% to 6% pay rise in the second year.

Mr Leoncio Amudio union leader said that "They said they could never meet our expectations, so we reduced the percentage but we're standing firm on these new numbers because we need this raise. Workers are also asking for other benefits such as a cafeteria, medical insurance fixed working hours and a restructuring of job categories.”

Authorities declared the strike legal on September 30th 2011 which means Freeport cannot hire temporary workers to replace the strikers. Cerro Verde located in Arequipa region put out 303,000 tonnes last year making it the third biggest copper producer in Peru.

Mr Eric Kinneberg spokesperson of FCX said that Cerro Verde has been forced to reduce mining rates to around two-thirds of normal levels. Mining rates are around an average 200,000 tonnes per day which is approximately 2 thirds of normal rates.

(Sourced from BNamericas.com)