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Workers to start 48-hour strike at Freeport's Cerro Verde copper project

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Workers to start 48-hour strike at Freeport's Cerro Verde copper project

Workers at Freeport-McMoRan Inc.'s majority-owned copper-molybdenumproject in Peru will begin April 8 their planned 48-hour as planned, Living in Peru reported April 7.

The workers are protesting the reduced profit-sharing bonusthey were to receive, which plunged to an average of 483 Peruvian soles basedon 2015 profits, compared with 30,000 soles they earned in the prior year.

The strike may be extended indefinitely if a compromise isnot reached, the union has told Freeport.

Freeport owns a 53.56% stake in the project, whileCompañía de Minas BuenaventuraSAA owns a 19.58% interest and Japan's owns21%.

As of April 7, US$1was equivalent to 3.39 Peruvian soles.