Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Brazilian miner Nexa Resources SA said that it has reached a deal to end a workers’ strike at its Cajamarquilla zinc smelter in Peru.
Workers at Cajamarquilla had downed tools on Monday to demand higher wages and better benefits, according to a union leader.
Nexa, previously known as Votorantim Metais Holding SA, said in a statement that it reached the agreement on Friday and will meet with the workers’ union again on Monday to continue talks about their demands.
Cajamarquilla, about 20 kilometers (12 miles) east of Lima, produced some 312,000 tonnes of zinc last year, about 8.5 percent less than in 2016, according to government data.
Reporting By Mitra Taj Editing by Bill Trott.
