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Peru Buenaventura miners at work after strike

Mon Mar 3, 2008 10:49am EST

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LIMA, March 3 (Reuters) - Peruvian precious metals producer Buenaventura (BUEv.LM) (BVN.N) said on Monday work has resumed at four mines hit by a labor strike last week.

Workers at its Uchucchacua, Orcopampa, Antapite and Caraveli mines struck for 72 hours over their share of profits from Buenaventura's latest results. The strike ended during the weekend.

"Our operations are working in a normal manner," an executive at Buenaventura told Reuters on Monday.

Last week, the company reported a 54 percent rise in fourth-quarter net profit compared with a year earlier, pushed by near-record high prices for silver and gold.

Peruvian law requires mining companies to share 8 percent of their profits with workers.

Besides its direct operations, Buenaventura has a minority stake in Yanacocha, Latin America's largest gold mine. (Reporting Maria Luisa Palomino; Writing by Dana Ford; editing by Matthew Lewis)



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