Peru’s small miners block highways, camp outside Congress demanding registry extension
Analyst says that there are strong competing interests between Congress and small-scale miners that could escalate.
Hudbay Minerals (TSX, NYSE: HBM) announced on Monday that new three-and-a-half-year collective agreements have been ratified by the members of United Steelworkers (USW) Local 7106 and USW Local 9338.
Members of the other four unions at Hudbay’s Manitoba operations ratified their respective three-and-a-half-year collective agreements in July, as reported in the company’s second-quarter results.
With the latest work agreements, Hudbay has now completed the collective bargaining process with all of the company’s unions in Manitoba, where it operates the Lalor gold-zinc-copper underground mine in the Snow Lake region.
The company also owns the 777 copper-zinc mine in Flin Flon, though that is nearing the end of its mine life after 15 years in operation, with final production anticipated in 2022.
Shares of Hudbay Minerals rose 2.3% by 11:45 a.m. in Toronto. The diversified miner has a market capitalization of C$2 billion.
