LIMA Feb 21 Southern Copper Corp signed a new three-year contract with workers in Peru that boosts salaries and ends the immediate threat of an indefinite strike, union leaders said on Thursday.
Workers had started out asking for a 25 percent raise and improved safety conditions, and went on strike for two days in late December.
Negotiations ended on Wednesday after the company and workers reached an agreement to raise wages 6.5 percent the first year, and 5 percent each of the next two following years, said Adrian Mamani, a union leader.
The contract expires at the end of 2015, Mamani said.
"It's not great but it's not bad either," said union leader Ricardo Juarez. "There won't be any strikes for the time being."
Southern Copper, an affiliate of Grupo Mexico, expects to produce about 650,000 tonnes of copper this year.
Some 2,500 people work at Southern Copper's units in Cuajone, Toquepala and Ilo.