By Alex Emery
Nov. 10 (Bloomberg) -- Cia. Minera Antamina SA workers will hold a strike vote tomorrow after wage talks at the operator of the world’s largest combined copper and zinc mine broke down, a union official said.
Workers rejected the company’s 4 percent wage increase offer, Antamina union general secretary Francisco Marinas said today. Workers had been negotiating with management since July after their three-year contract expired.
“The company has made a very low offer and doesn’t want to listen to our position,” Marinas said in a telephone interview. “We’ll have to take more radical measures.”
Miners this year have staged strikes in Peru, Mexico and Chile to push for a bigger slice of company earnings. Disruptions including a 29-day strike at BHP Billiton Ltd.’s Spence copper mine in Chile have helped extend a copper rally which has seen prices double this year.
Copper futures for December delivery was little changed at $2.967 a pound at 2:45 p.m. on the New York Mercantile Exchange’s Comex unit. Copper has more than doubled this year. Zinc for delivery in three months was little changed at $2,161 a metric ton on the London Metal Exchange.
Melbourne-based BHP Billiton owns Antamina with Zug, Switzerland-based Xstrata Plc, Vancouver-based Teck Cominco Ltd. and Tokyo-based Mitsubishi Corp. Antamina produced 382,842 metric tons of zinc, 358,180 tons of copper and 390,129 kilograms of silver last year, according to the Energy & Mines Ministry.
‘Good Offer’
Antamina spokesman Gonzalo Quijandria said workers hadn’t notified the company that talks had collapsed.
“We made a good offer that would make workers the best- paid in the Peruvian mining industry,” Quijandria said in a telephone interview. “The company is open to continued talks.”
Peruvian workers staged a 48-hour national strike last month and earlier this year walked out at mines operated by precious metals producers Cia. de Minas Buenaventura SA, Pan American Silver Corp. and Hochschild Mining Plc, zinc miner Glencore International AG and Shougang Corp.’s iron mine.
To contact the reporters on this story: Alex Emery in Lima at aemery1@bloomberg.net.
Last Updated: November 10, 2009 14:50 EST
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