What is the primary reason for the work stoppages at SCCO's mining units?

The work stoppages are due to unionized workers demanding additional wage increases, citing high metal prices as the basis for their request.

Are all of Southern Peru Copper Corporation's operations affected by these work stoppages?

No, only the unionized workers at the Toquepala and Cuajone mining units have initiated work stoppages. Operations at other SCCO units remain fully operational.

What is SCCO's expectation regarding the legality of the work stoppages?

The company expects that Peruvian authorities will declare these actions illegal.

What is the impact on production at the Toquepala and Cuajone mines?

The company reports partial production at the Toquepala and Cuajone facilities, indicating that operations have not ceased entirely but are experiencing disruptions.

SCCO 8-K SEC Disclosure

Summary

Southern Peru Copper Corporation (SCCO) reported a significant event on August 31, 2004, concerning work stoppages initiated by unionized workers at its Toquepala and Cuajone mining units. The primary demand from the workers is for additional wage increases, directly linked to the current high metal prices. While operations at other SCCO units remain unaffected, the company is experiencing partial production disruptions at the Toquepala and Cuajone facilities.

Key Highlights

1Unionized workers at SCCO's Toquepala and Cuajone mining units initiated work stoppages on August 31, 2004.
2The workers are demanding wage increases based on high metal prices.
3Operations at other SCCO mining units are continuing without interruption.
4Partial production is ongoing at the affected Toquepala and Cuajone facilities.
5SCCO expects Peruvian authorities to declare the work stoppages illegal.

SOUTHERN COPPER CORP/ 8-K Report, Corporate Update (Aug 31, 2004)

Summary

Key Highlights

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