Capstone Copper Corp. Announces Labour Disruption at Mantoverde Mine in Chile
Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) (ASX:CSC) has announced that Union #2, one of the four unions at the Mantoverde Mine in Chile, will take strike action effective January 2, 2026. This union represents approximately 50% of Mantoverde employees, or 22% of the total workforce. Prior to the strike notice, Capstone attempted to reach an agreement for a new collective bargaining agreement with Union #2 in good faith.
As a result of the strike, certain activities at the mine will be gradually reduced in a safe manner. During the strike, Capstone expects to continue operations at Mantoverde at a level of up to 30% of normal production. The company remains willing to participate in meetings to reach a resolution and will continue to adhere to legal procedures, respecting the rights of all its employees, inviting the union to engage in a constructive dialogue, and providing the authorities with all requested information.
Background and Context
Capstone Copper is an Americas-focused copper mining company headquartered in Vancouver, Canada. The company’s operating portfolio of assets includes the Pinto Valley copper mine located in Arizona, USA, 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. In 2025, Mantoverde was able to successfully negotiate new three-year collective bargaining agreements with the three other unions.
In 2024, Capstone Copper distributed $682 million in economic value to Chile across its operations, including $136 million in employee wages and benefits. Today, Mantoverde employs approximately 1,270 total employees, including approximately 550 individuals from the local communities in the Atacama region of Chile. The total workforce at Mantoverde is approximately 2,940 individuals, including approximately 1,670 contractors.
Company Statement and Forward-Looking Information
Capstone Copper’s strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization, and safe and responsible production throughout its portfolio of assets. The company focuses on profitability and disciplined capital allocation to surface stakeholder value. Capstone Copper is committed to creating a positive impact in the lives of its people and local communities, while delivering compelling returns to investors by responsibly producing copper to meet the world’s growing needs.
Further information is available at www.capstonecopper.com. This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995.
Contact Information
Daniel Sampieri, Vice President, Investor Relations
437-788-1767
dsampieri@capstonecopper.com
Michael Slifirski, Director, Investor Relations, APAC Region
61-412-251-818
mslifirski@capstonecopper.com
Claire Stirling, Manager, Investor Relations
416-831-8908
cstirling@capstonecopper.com
Smart Tip for Readers
When following news about labour disputes in the mining sector, it’s essential to consider the broader context, including the company’s history of labour relations, the economic impact on local communities, and the potential effects on global commodity markets. For more information on Capstone Copper’s labour negotiations, visit Here
