(RTTNews) - Capstone Copper Corp. (CS.TO, CSC.AX) announced that Union #2, one of the four unions at the Mantoverde Mine in Chile, representing approximately 50% of Mantoverde employees, or 22% of the total workforce, will commence strike action effective January 2, 2026. Prior to the strike notice, Capstone engaged in good faith negotiations to reach a new collective bargaining agreement with Union #2. As a result of the strike, certain mine activities will be gradually reduced in a safe manner. During this period, Capstone expects to continue operations at Mantoverde at up to 30% of normal production levels.
Capstone Copper emphasized its willingness to participate in meetings to reach a resolution and reaffirmed its commitment to legal procedures, employee rights, and constructive dialogue. The company will continue to provide authorities with all requested information and remains dedicated to the highest standards of integrity and transparency. Capstone looks forward to resuming its focus on safe and responsible mining at Mantoverde, which delivers significant benefits to both its workforce and surrounding communities.
In 2025, Mantoverde successfully negotiated new three-year collective bargaining agreements with the three other unions, underscoring the Company's ongoing efforts to maintain strong labor relations.
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