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Southern Copper workers in Peru extend strike to ninth day

Nov. 29, 2017 2:51 PM ETSouthern Copper Corporation (SCCO) StockSCCOBy: Carl Surran, SA News Editor
  • Southern Copper (SCCO -1.8%) mine workers in Peru complete the ninth day of a strike, following a failed negotiation attempt with the company in seeking a better share of miners’ profits.
  • SCCO operates the Toquepala and Cuajone mines in Peru as well as the Ilo refinery, and produced 900K metric tons of copper last year.
  • Mixed and sometimes contradictory messages from the strike provide a challenge for investors to gauge the impact on supply: SCCO says the strike is affecting ~25% of workers while the unions say they represent nearly 70% of the workforce, and SCCO says the smelter is operating normally and Ilo operations are "the least" affected by the strike while the unions have called on workers to focus on Ilo.

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