Compensation at Doe Run Peru Above the National Average - 24/03/2008

  • Payments in wages and salaries surpass $70 million per year, in addition to $14 million in distribution of profits to employees.
  • Direct employees on DRP payroll account for 85 percent of the total workforce, whereas the national average in the mining sector is around 35 percent.

(La Oroya, March 24, 2008) - Wages at Doe Run Peru (DRP) are among the highest in the country, averaging S/. 60,028 New Soles per year per employee and S/. 55,056 New Soles per worker. These amounts break down to an average of 16.5 ordinary monthly payments.

This year profit sharing payments were on the order of four regular monthly payments per person, to the tune of an average of 13,700 New Soles for workers and 14,900 New Soles per employee support staff. These payments more than double last year’s figures.

“Thanks to favorable market conditions and workers’ efforts, we have achieved positive results,” said Adrián Mendoza Talavera, vice president for human resources at Doe Run Peru.  “That is why we always see to it that this effort translates into higher wages.”

Likewise, DRP pays all its workers a Gain Sharing benefit, on a monthly basis, reflecting operational, safety, environmental and management results. This benefit allows, on average, for an additional 7 percent boost to a worker’s basic monthly salary.

DRP’s policy regarding salaries also contemplates yearly increases that beat the country’s rate of inflation. Last year, the total increase was 7 percent, while inflation rose 3.9 percent. This allows for salaries paid to not only maintain their buying power, but also to increase in real terms year after year.

Likewise, last year DRP issued a special bonus to temporary agency employees. The company anticipates another bonus this year as well.

In this context, Mendoza explained that given the nature of the business, DRP buys concentrates on the market, which it turns into refined metals. And doing so requires long-term agreements with workers, suppliers and customers. Otherwise, the company would not enjoy the needed stability to guarantee its growth.

About Doe Run
A mining and metallurgical company in the central hills of Peru, which has been operating the La Oroya metallurgical complex since October 1997 and the Cobriza copper mine in Huancavelica since September 1998, producing high-quality refined metals with full awareness of and compliance with its social and environmental responsibilities.

For further information contact:

Victor A. Belaunde 
+(511) 215-1285

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DOE RUN PERU Av. Victor Andrés Belaúnde 147, Centro Camino Real, Torre Real 3,
Piso 9. Lima 27, Perú. Central telefónica +51-1-215-1200