Cominco resolves strike

Denver — Striking workers have returned to work at the Cajamarquilla zinc smelter in Peru after reaching an agreement with Cominco (CLT).

The company, which controls an 82% stake in the plant, north of Lima, agreed to a wage increase of 105 soles (US$30) per month this year and an increase of 90 soles (US$25) in the following two years.

The workers walked off the job in mid-June, asking for a monthly increase of 150 Peruvian soles (US$43) over the average wage of 1,500 soles (US$430 per month). Cominco said it couldn’t afford the increase and offered a pay hike of 57 soles (US$16) per month.

The 2-week-long strike involved 300 of the 510 workers. The new deal covers three years, allowing Cominco stability to complete a US$300-million expansion project, which should double annual production to 240,000 tonnes of refined zinc.

Japan’s Marubeni controls the remaining stake in the smelter complex.

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