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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (27061)	10/8/2008 7:05:47 PM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Peru's Cerro Verde Miners May End Strike By Thursday -Union news.ino.com LIMA (Dow Jones)--Miners at a base metals mine controlled by U.S.-based Freeport-McMoRan Copper and Gold Inc. (FCX) may end their walkout by Thursday, a top union member said Tuesday. Leonicio Amudio, a union leader at Sociedad Minera Cerro Verde SAA, (CVERDEC1.VL) told Dow Jones Newswires that for now, the strike, which began last Thursday in demand of scheduled contract improvements, "will continue." He said the company did not show up at talks mediated by the Labor Ministry that were scheduled for Monday afternoon. Amudio added that talks were rescheduled for Thursday morning, after which, "a truce could be reached." Freeport-McMoRan owns 53.56% of Cerro Verde, while SMM Cerro Verde Netherlands B.V. owns 21%. Peru's Compania de Minas Buenaventura SAA (BVN) owns 18.5%. The rest is held by smaller shareholders. Cerro Verde's copper production in the first half of 2008 totaled 156,393 metric tons. -By Leslie Josephs, Dow Jones Newswires; 511-211-2689; peru@dowjones.com