October 13, 2008

Cerro Matoso losses USD 76.6 million in 29 days strike

BNamericas reported that the 29 day strike at Colombia's Cerro Matoso metallurgical complex has generated partial losses of COP 140 billion (USD 76.6 million).

Mr Roger Herrera president of the Sintracerromatoso union told BNamericas employees paralyzed operations on February 27 demanding the company hire more workers.

However sector expert Mr Jairo Herrera director of Colombia's mining information website IMCPortal, believes the losses are difficult to quantify since the company's official figures are still unknown. He said that "It is tough to say the exact figure of the losses but we know they are huge.”

Cerro Matoso is located in Colombia's Córdoba department and produces ferronickel, iron alloys and nickel.