Capstone Copper Provides Update on Labour Negotiations at Mantoverde Operation

Executive Summary

• Union #2, representing ~50% of Mantoverde Mine employees (22% of total workforce), will commence strike action on January 2 2026.
• Capstone expects production at Mantoverde to be reduced to up to 30% of normal levels during the strike.
• The company remains open to negotiations and will continue to operate safely while complying with legal requirements.

Key Details

• Union #2 covers approximately 1,270 employees (≈550 local community members) out of a total Mantoverde workforce of ~2,940 (including ~1,670 contractors).
• Prior to the strike, Capstone attempted in‑good‑faith negotiations for a new collective bargaining agreement with Union #2.
• The three other unions at Mantoverde successfully negotiated three‑year agreements during 2025; only Union #2 remains without an agreement.
• During the strike, activities will be “gradually reduced in a safe manner,” with production limited to ≤30% of normal output.
• Capstone reiterates willingness to meet with union representatives and to provide requested information to authorities.
• The company highlights its commitment to integrity, transparency, and responsible mining for workers and surrounding communities.
• 2024 economic contribution: $682 million delivered to Chile, including $136 million in employee wages and benefits.

Notable Quotes

(No direct quotes were provided in the release.)