Living in Peru : your everyday companion

Peru unions say ready for nationwide mining strike

Unions at mines throughout Peru are ready to strike next week to demand better labor benefits, the head of the country's biggest federation of mining unions and local union bosses said on Tuesday. "We have 33 unions supporting us," said Luis Castillo, the federation's leader. "We will go on nationwide strike on May 12 no matter what." (Reuters - click here to read complete article)


Peru to auction oil and gas exploration lots Tue

Peru will auction 17 parcels for petroleum prospecting starting on Tuesday, with the hope of capturing some $800 million of exploration investment, the government said on Monday. The lots are located throughout the Andean country, along the Pacific Ocean and in the mountains. Eight jungle tracks will be bid off, Ronald Egusquiza, the president of the state-run Perupetro, told reporters. (Reuters - click here to read complete article)


Oxy Denies Peru Blame

Occidental is blamed for environmental damage in Peru - nearly a decade after it left and transferred operations to another company. In a case eerily reminiscent of the lawsuit against Chevron in Ecuador, Occidental Petroleum is being blamed for environmental damage in Peru and - like Chevron - denies any wrongdoing. (Latin Business Chronicle - click here to read complete article)


Chinalco taps into Peru copper miner for US$2.16 bln

Aluminum Corp of China Ltd (Chinalco)<601600><2600>, the country's largest producer of this metal, said on Monday it plan to invest a total of US$ 2.16 billion in the Toromocho project, the largest copper miner in Peru, part of the state-owned company's strategy to seek suppliers abroad to cater to surging demand in the world's top copper ... (China Knowledge - click here to read complete article)


High Metals Prices Boost Peru Miner

Compania de Minas Buenaventura, Peru's largest publicly traded precious metals mining company, is basking in record high prices for much of its output. Buenaventura operates seven mines in Peru and holds controlling interests in two other mining companies, as well as minority interests in several others. (Red Orbit - click here to read complete article by Gordon Platt)


Ahead of the Bell: Southern Copper slips following downgrade

Shares of Southern Copper Corp. dipped in premarket trading after an HSBC analyst cut his rating, saying the copper producer's shares are approaching a fair price. Analyst Jordix Dominguez downgraded Southern Copper to "Neutral" from "Overweight," but edged his price target up to $128 per share from $125. He also trimmed his 2008 profit estimate. (AP - click here to read complete article)