1:43 PM ET, February 2, 2010
BLAINE, WASHINGTON, Feb 02, 2010 (MARKETWIRE via COMTEX) -- Century Mining Corporation ("Century" or the "Company") (TSX VENTURE: CMM) advises that the union representing the mine workers, excluding management, at the Company's San Juan Gold Mine in Peru have taken illegal strike action as of 5:00am eastern standard time on February 2nd, 2010.
The Ministry of Work in Peru has deemed the strike by the union members at the San Juan Gold Mine to be illegal. The Ministry of Work will be working closely with the union and the Company to resolve the work stoppage as quickly as possible, and meetings are scheduled for today. As the strike has been deemed illegal by the Ministry of Work, the mine workers will not be paid for their time not on the job.
The Company will provide additional updates after meetings have been held.
2 comments:
This is a surprising development. I believe it was just 4 or 5 months ago (during a conference call) Peggy mentioned that Century and the union had just signed a 2 year contract. She said this was a significant development as contracts are usually done year to year (San Juan was the only mine or one of a very few mines in Peru that a contract for more than a year). This had suggested to me that relations were good between Century and the union. This is why this strike is surprising to me.
This strike is deemed illegal because they are within contract. Could the workers be looking for parity with their Canadian counterparts. Questions are..what's the next step, where does the Peruvian gov fit into the fray, how do they deal with such an action, more importantly is how will Management deal with the Union? Hopefully we won't have to wait too long for this inconvenient development to be rectified so we can get back to making oz's.
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