Capstone Copper Says Chilean Mine Operations Expected to Continue at Up to 30% Level After Strike; Shares Up 3%

MT Newswires Live
Jan 12

Capstone Copper (ASX:CSC) said it expects to continue operations at the Mantoverde copper mine in Chile at a level of up to 30% of normal production after one of the four unions at the mine went on strike, according to a Monday Australian bourse filing.

Union #2, one of the four unions at Mantoverde, representing around 50% of employees at the mine, or 22% of the firm's total workforce, went on a strike starting Jan. 2.

As a result of the strike, certain activities at the mine were gradually reduced in a safe manner, per the filing. The firm added that it will continue to adhere to legal procedures, respecting the rights of all its employees, inviting the union to engage in a constructive dialogue.

Capstone Copper's shares rose nearly 3% in recent trading on Monday.

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