Capstone Returns to Normal Operations at Chilean Mine After Strike

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Written by Amir Richani for IIR News Intelligence (Sugar Land Texas)

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Summary

Capstone reached an agreement with the striking workers at its Mantoverde mine in Chile. Copper operations at the asset are expected to return to normal levels after operating at 55% capacity during the strike.

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Month-Long Strike Finished

Capstone has begun the return to full operations at its Mantoverde mine in Chile after successfully reaching a new three-year collective bargaining agreement with Union No. 2 at the mine, which had been on strike since January 2.

Throughout the strike, the copper mine operated at 55% of its normal production levels. Including the agreement with Union No. 2, Capstone has now completed contract renegotiations with all four unions at the copper mine.

On February 1, Capstone reported that it had restarted operations at the mine after regaining access to its desalination plant. For more information, see February 4, 2025, article - Capstone Restarts Mantoverde Copper Mine, but Workers' Strike Continues.

Mantoverde at Heart of Capstone

Last year, Capstone produced 225,000 tonnes of copper, representing an increase of approximately 22% from 2024 and 37% from 2023. The increased production volumes resulted from the Mantoverde Development Projects and the Mantos Blancos debottlenecking project. For 2025, Mantoverde's output accounted for 95,100 tons of copper between sulphides and cathodes.

IIR is tracking 11 Mantoverde-related projects worth US$951 million, including concentrator expansions, desalination plant (see project reports) and the Mantoverde-Santo Domingo District Integration.

The integration of the Santo Domingo district involves merging operations with Mantoverde, which will include two processing centres. The Santo Domingo deposit contains more than 100 million tonnes of measured and indicated and more than 200 million tonnes of inferred sulphide resources.

Copper Prices

Copper futures prices remain near US$5.90 per pound amid operational disruptions at several mines worldwide. Copper prices remain above Cochilco's revised average price for 2026 set at US$4.95 per pound.

Previously, the Chilean authority had forecasted a price of US$4.55 per pound for 2026.

Key Takeaways

• Capstone's Mantoverde mine is expected to return to normal operations.
• The company has reached a new contract agreement with all its unions.
• Industrial Info is tracking 11 projects at the Mantoverde mine.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).