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Workers vote to end strike at Freeport's Cerro Verde after accepting wage deal

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Workers vote to end strike at Freeport's Cerro Verde after accepting wage deal

Striking workers at Freeport-McMoRan Inc.'s Cerro Verde copper mine in Peru voted to end a nearly three-week strike, agreeing to resume work on March 31, Reuters reported March 30, citing the union.

The employees accepted the company's offer of improved family healthcare benefits and the payment of their share of profits from the mine earlier than usual, union leader Jesus Revilla noted.

The work stoppage that started March 10 halted 95% of output at the site. However, Cerro Verde was able to produce at about 50% of its normal capacity a few days later, after contract workers were hired to operate key areas.

Freeport holds a majority 53.56% interest in the mine with Sumitomo Metal Mining Co. Ltd. owning a 21% interest and Compañía de Minas Buenaventura SAA holding 19.58% stake.