Southern Copper Corporation is advancing negotiations with union workers in Peru for new collective agreements.

Mr Guillermo Vidalon Southern Copper's spokesman in Peru said that the company is holding its third round of talks with union workers this week. The negotiations began earlier this month with a total of 8 unions that represent workers at Southern Copper's operations in Peru.

Mr Vidalon said that the collective agreements with Southern Copper's main unions expire at the end of August. Mining companies in Peru have often faced strikes by union workers over demands for higher pay. In Peru, Southern Copper has the Cuajone and Toquepala mines and Ilo refinery.

Southern Copper, which also has operations in Mexico is majority owned by Grupo Mexico SA. In the first six months of 2012, Southern Copper produced 313,500 tonnes of copper up 16% from the year earlier period.

Source - Market Watch

(www.steelguru.com)