- Capstone Copper (TSX:CS) has resumed operations at its Mantoverde mine, despite an ongoing strike by Union #2, which represents about 22 per cent of the workforce
- The company expects to maintain production at 50 per cent–75 per cent of normal levels during the labour disruption
- Capstone says it remains open to dialogue, reaffirming its commitment to legal procedures, employee rights, and constructive negotiations with the union
- Capstone Copper stock (TSX:CS) last traded at C$15.09
Capstone Copper (TSX:CS) has resumed operations at its Mantoverde copper‑gold mine in Chile’s Atacama region, even as a labour strike involving Union #2 — representing nearly 22 per cent of the mine’s workforce — continues into its second month.
Operations had been partially interrupted in January after the company lost access to the site’s desalination plant, a critical water source for the mine. According to Capstone, the facility was compromised on January 18 when individuals entered the plant and interfered with its electrical system, causing a temporary interruption to water supply.
Capstone confirmed in a disclosure dated February 1 that production has restarted and is expected to operate at 50 per cent to 75 per cent of normal capacity while the strike continues. This operational range mirrors earlier guidance the company provided as it worked to stabilize the site following the disruption.
“Capstone Copper remains willing to engage in discussions to seek a resolution with Union #2,” the company said in its latest statement.
Union #2 began its strike on January 2 after negotiations over new labour agreements stalled. The company says it remains open to further dialogue and is committed to following all legal procedures, respecting employee rights, and cooperating fully with authorities throughout the dispute.
The strike has unfolded amid broader tensions in Chile’s mining sector, where labour negotiations have grown increasingly complex against the backdrop of tighter water resources and elevated demands for improved compensation. Mantoverde, a significant contributor to Capstone’s production portfolio, is partly supported by a desalination plant located roughly 40 kilometers from the mine — infrastructure that has become a focal point of recent conflicts.
Despite the ongoing disruption, Capstone has reaffirmed its intention to maintain stability at Mantoverde and continue working toward a negotiated settlement. As of early February, Union #2 has not announced new mediation sessions, but both sides publicly maintain openness to dialogue.
Capstone Copper Corp. is copper mining company operating out of Vancouver. Capstone’s operating portfolio of assets includes the Pinto Valley copper mine located in Arizona, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and the Mantoverde copper-gold mine, located in the Atacama region, Chile.
Capstone Copper stock (TSX:CS) last traded at C$15.09 and has risen more than 85 per cent since this time last year.
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