Capstone Copper (ASX:CSX) has reached a definitive labour agreement with Union #2 at its Mantoverde Mine in Chile, effectively ending a strike that began on Jan. 2.
The newly ratified three-year collective bargaining agreement marks a significant milestone for the facility, as Mantoverde has now secured long-term contracts with all four of its unions.
During the labor dispute, the mine continued to function at approximately 55% of its normal production capacity.
With the legal hurdles cleared, management's immediate priority is transitioning back to full-scale operations safely and efficiently.
The resolution stabilises Capstone's Chilean portfolio, which includes the Mantoverde copper-gold mine and the Mantos Blancos silver-copper mine, and clears the path for the company to pursue its growth strategy in the Atacama region.
At the time of reporting, Capstone Copper's share price was $15.43.