Compañia de Minas Buenaventura S.A.A. announced that within the frame of annual collective negotiations the Orcopampa Union began a strike at midnight on May 26, 2012. The Peruvian Ministry of Labor has denied the proceeding of this strike at first instance.
Buenaventura S.A.A. is Peru’s largest publicly traded, precious metals mining company and a major holder of mining rights in Peru. The company currently operates several mines in Peru (Orcopampa, Poracota, Uchucchacua, Antapite, Julcani, Recuperada, El Brocal, La Zanja, Coimolache and CEDIMIN). It also owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corp.); 19.35% of Sociedad Minera Cerro Verde, a Peruvian copper producer, and 49% of Canteras del Hallazgo S.A, owner the Chucapaca project.