Negotiations for a new collective labor agreement (CLA) at the Cerro Verde copper mine in Peru are ongoing, with around 65% of hourly workers having signed new contracts as of the end of September, according to US copper producer Freeport-McMoRan.
The company, which owns a 53.56% stake in Cerro Verde, said the CLA expired on August 31 and that ongoing talks may result in additional charges to the mine's shareholders.SMM Cerro Verde Netherlands BV, a subsidiary of Sumitomo Metal Mining Company, owns...