Peru unions Mining Companies

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. Widespread unwinding of out-of-the-money gold hedges by mining companies that helped propel bullion to record highs above US$1,000/oz this year is largely over and unlikely to provide much future price support, French bank BNP Paribas said several days ago.