Workers at Buenaventura’s Peru mine scrap strike

LIMA, July 24 (BestGrowthStock) – Workers at Buenaventura’s
Uchucchacua silver mine in Peru suspended strike plans to
continue labor talks aimed at improving working conditions, a
union leader told Reuters on Saturday.

Only a day earlier, workers at Buenaventura’s Orcopampa
gold mine in Peru delayed plans for a walkout after making
progress in labor negotiations.

“We have suspended the measure. We will continue talks with
the company on Monday and Tuesday,” said Segundino Romero, head
of the Uchucchacua workers’ union.

Labor unrest has plagued Buenaventura (BVN.LM: ) (BVN.N: ),
Peru’s top precious metals miner, whose workers demand a bigger
slice of the mining bonanza as the precious metal powerhouse
recovers from the global financial crisis.

A week-long strike by Buenaventura workers in February
stopped production at Orcopampa, Uchucchacua and the company’s
other gold unit Antapite.

In 2009, the Uchucchacua unit produced 10.6 million ounces
of silver and Orcopampa had an output of 366,743 ounces of
gold.

Peru is the global leader in silver production and the
sixth-largest producer of gold.

Investing Research

(Reporting by Marco Aquino; writing by Alonso Soto; editing by
Mohammad Zargham)

Workers at Buenaventura’s Peru mine scrap strike