NEW YORK Southern Copper
Corp. (SCC) hopes to reach new labor agreements soon with five
Peruvian unions representing local workers to replace contracts
that expired at the end of 2012.
SCC last month signed three-year
labor agreements with three of the eight Peruvian unions it
deals with, representing about 13 percent of SCCs
unionized workforce. The new labor contracts include a
6-percent wage increase in the first year and 5-percent
increases in the second and third years, chief financial
officer Raul Jacob said during a conference call following the
release of the companys fourth-quarter results.
"We are confident we will reach
a satisfactory agreement with the remaining workers
unions in the coming days," Jacob said.
The eight Peruvian unions
represent 2,900 workers out of SCCs total labor force of
Southern Copper operates the
Toquepala and Cuajone mines in Peru, and has a number of
exploration projects underway at Los Chancas and Tantahuatay,