just a reminder before it breaks out, page-31

"LIMA -(Dow Jones)- The first shift of unionized workers at Southern Copper Corp.'s (PCU) Ilo smelter and refinery in Peru unanimously voted in favor of strike action Thursday, a union official said.


"The vote was unanimous and it is extremely likely that we will be presenting official strike notice tomorrow," said union leader Arnaldo Oviedo.

A second assembly will be held later Thursday, but Oviedo said he was sure workers would also vote in favor of the strike.

Unionized workers at Southern Copper's Cuajone and Toquepala mines already have voted to support the strike.

Unions from the three units resumed contract talks in mid-May after agreeing to lift a strike held in late April and early May.

Unions, however, broke off talks when they failed to reach an agreement.

The union members want increased pay, pointing to robust corporate earnings. The unions last signed a collective agreement some six years ago, they say. In the meantime, copper prices have soared.

"The company is offering a ridiculous amount and they want another six-year agreement," said Oviedo.

Once the official strike notice is presented, unions can walk out after a five-day period.

Earlier, union officials had said that a strike notice would be presented Friday or Monday.

Southern Copper Chief Executive Oscar Gonzalez Rocha said late Wednesday that the impact of any strike by unionized workers would be limited.

He said the company plans to maintain its forecast of copper production at some 700,000 tons for this year, at operations in both Mexico and Peru.

Southern Copper operates mines, smelting and refining facilities in Mexico and Peru. Grupo Mexico (GMEXICO.MX) has a 75.1% stake in Southern Copper.
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