Highlights

  • Mantoverde mine operations partially halted due to Union #2 strike and desalination plant disruption.
  • Sulphide mining temporarily paused; oxide operations expected to continue until water supply resumes.
  • Capstone seeks judicial support to restore desalination plant access and remains open to dialogue with Union #2.

Capstone Copper Corp (ASX:CSC) shares closed at AUD 15.02 on 23 January, down 2.88% following reports of operational disruptions at its Mantoverde copper-gold mine in Chile. The strike, ongoing since 2 January, combined with interference at the desalination plant, has affected water supply and mining activities at the site.

Operational Disruptions at Mantoverde
On 18 January, individuals entered the desalination plant located 40 km from Mantoverde, disrupting the electrical system and halting water supply. Striking union members are preventing access to the plant, leading Capstone to use on-site water reserves for essential services. Sulphide operations have been temporarily halted, while oxide operations are expected to continue only until the current water supply is exhausted.

Company Response and Legal Measures
Capstone Copper is actively seeking judicial intervention to regain access to the desalination plant and restore water supply. The company emphasized its willingness to engage in constructive dialogue with Union #2 while respecting all employees’ legal rights. Capstone reaffirmed its commitment to transparency, integrity, and safe mining operations, aiming to resume full production as soon as possible.

Portfolio and Growth Outlook
Capstone Copper is an Americas-focused mining company headquartered in Vancouver, Canada. Its current operations include:

  • Pinto Valley (Arizona, USA)
  • Cozamin (Zacatecas, Mexico)
  • Mantos Blancos (Antofagasta, Chile)
  • Mantoverde (Atacama, Chile)

The company’s growth pipeline includes the fully permitted Santo Domingo copper-iron-gold project, located near Mantoverde, and a portfolio of exploration properties across the Americas. Capstone aims to restore Mantoverde operations promptly to ensure continued production and community benefits.