Mexico is a top 10 gold miner, and Penasquito has ranked among its most productive precious metals projects. Both parties agreed to an 8% salary increase for workers, the statements said, a figure below the 10%-20% hike proposed by the union initially. The miner also agreed to pay two months salary to workers if it fails to report profits in the year, the union said. The statements noted that workers will also receive a 152 million peso ($8.3 million) bonus, divided equally among them. In addition to precious metals, Penasquito also produces significant volumes of base metals zinc and lead.

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Persons: Dado Ruvic, Penasquito, Newmont, Sen, Napoleon Gomez, Andres Manuel Lopez Obrador, Daina Beth Solomon, Valentine Hilaire, David Alire Garcia, Stephen Coates Organizations: REUTERS, MEXICO CITY, National Union of Mine, Metal Workers, Thomson Locations: MEXICO, Mexico, Mexican Republic, Zacatecas