PERU COPPER FIRM
EXPECTS TO REACH PACTLIMA, Peru - Southern Peru Copper Co. reached a labor agreement with its white collar and clerical workers last week and may reach an agreement with its mine workers by today, an official of the state-owned mining company said.
If an agreement is reached, approximately 70 percent of the workers could return to work today, said Oliver Stark, copper and minor metals manager of Minpeco, the state-owned metals marketing company.
The company last week declared force majeure on 3,000 metric tons of blister copper shipments and delayed shipments of 4,000 metric tons of copper cathode.
SYDNEY EXCHANGE FIRST
TO GAIN FULL US ACCESS
SYDNEY, Australia - The Sydney Futures Exchange said it has become the first futures exchange in the world to gain full access to the United States for the sale and marketing of its futures and options contracts.
Les Hosking, chief executive of the Sydney exchange, predicted the exemption to certain rules granted exchange members by the U.S. Commodity Futures Trading Commission would lead to an increase in the amount of U.S. trading on the Sydney market since it removed a major barrier to direct marketing.
SOUTH KOREA TO BOOST
BEEF IMPORTS IN 1989
SEOUL, South Korea - South Korea said it plans to import between 35,000 and 39,000 metric tons of beef next year, up from 15,000 tons this year.
The government said it needs to increase supplies because herds are dwindling and prices are rising sharply.
PLAGUE OF LOCUSTS
REACHES IRAN, INDIA
ROME - Food and Agriculture Organization officials said a plague of locusts that already is affecting much of Africa and the Middle East has reached as far as Iran and India.
No locusts have been reported in Afghanistan or Pakistan, but since early October they have been sighted in 18 cities in the northwestern Indian province of Rajasthan, which adjoins Pakistan.