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4-Traders Homepage  >  Equities  >  Nyse  >  Southern Copper Corp    SCCO

Delayed Quote. Delayed  - 09/30 10:02:03 pm
26.3 USD   -0.49%
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Peru Unionized Workers Start Two-Day Strike At Southern Copper

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12/24/2012 | 04:37pm CEST
   By Robert Kozak 
 

LIMA, Peru--Unionized workers at Southern Copper Corp.'s (>> Southern Copper Corp) Cuajone and Toquepala mines and its Ilo smelter and refinery in Peru went on strike Monday to back demands for salary increases, a union official said.

"The strike is taking place at Cuajone, Toquepala and Ilo," said Ricardo Juarez, secretary general of the worker's union at Ilo, in a telephone interview.

He said the two-day walkout was a warning to the company: If no new contract is reached, then a general, indefinite strike will start on January 15.

Talks between the company and unions aimed at reaching a new collective-bargaining agreement have been suspended.

"The negotiations were going nowhere," Mr. Juarez said. He said the company has hired replacement workers during the current strike.

Southern Copper operates mines, smelting and refining facilities in Mexico and Peru. Grupo Mexico (GMEXICO.MX) owns a majority stake in Southern Copper.

In the third quarter of 2012, Southern Copper's copper production reached 160,379 metric tons. The company also produces molybdenum and other products.

Write to Robert Kozak at robert.kozak@dowjones.com.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Southern Copper Corp
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Financials ($)
Sales 2016 5 327 M
EBIT 2016 1 476 M
Net income 2016 765 M
Debt 2016 5 444 M
Yield 2016 0,81%
P/E ratio 2016 25,54
P/E ratio 2017 25,24
EV / Sales 2016 4,84x
EV / Sales 2017 4,66x
Capitalization 20 349 M
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Mean consensus HOLD
Number of Analysts 17
Average target price 28,5 $
Spread / Average Target 8,5%
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Managers
NameTitle
Oscar González Rocha President, Chief Executive Officer & Director
Germán Larrea Mota-Velasco Chairman
Raúl Jacob Ruisánchez Chief Financial Officer, VP-Finance & IR Contact
Carlos Ruiz Sacristán Pemán Special Independent Director
Luis Miguel Palomino Bonilla Special Independent Director
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