Teamsters Call on Shareholders to Vote Against Directors at Southern Copper


The Teamsters are standing with the AFL-CIO to call for a Vote Against Directors at Southern Copper [NYSE:  SCCO], a company that is controlled by Grupo Mexico.  

The leading proxy voting advisor, ISS recommends investors withhold support from the directors affiliated with Grupo Mexico for the second straight year for their poor attendance and lack of independence while serving on a key management oversight committee.

Grupo Mexico owns ASARCO, the mining company where 1700 mineworkers had been on an unfair labor practices strike since October 2019, including approximately 130 workers in Sahuarita, Arizona who are members of Teamsters Local 104.

After the National Labor Relations Board found merit to the unfair labor practices charges and issued a complaint against ASARCO, workers made a unconditional offer dispute to return to work.  The company, however, has not reinstated the vast majority of workers to their jobs.  Under U.S. labor law, workers may be entitled to backpay if an employer unlawfully refuses to reinstate unfair labor practice strikers.

For more information on environmental, social and corporate governance risks at Grupo Mexico, please read the report from the Committee on Workers’ Capital” here: