Capstone inks three-year wage deal with unions at Mantos Blancos amid expansion plans
TSX- and ASX-listed Capstone Copper has signed a new three-year collective bargaining agreement with both unions at the Mantos Blancos copper and silver mine, in Chile.
Following successful negotiation of agreements that support Capstone's employees and the long-term sustainability of the operation, Mantos Blancos will continue to focus on safe and responsible mining which brings great benefits to the workforce and surrounding communities, the company says in a statement.
Mantos Blancos currently employs about 1 106 people, with 92% of them stemming from the local communities in the Antofagasta region of Chile.
The total workforce at Mantos Blancos is about 2 928 people when including the operation's 1 822 contractors.
Meanwhile, Capstone also recently submitted an environmental application for the Mantos Blancos Phase II project. The project represents the mine's next phase of growth and supports the long-term operational continuity of the mine in Antofagasta.
The Phase II expansion contemplates increasing the sulphide concentrator plant's throughput capacity to at least 27 000 t/d of ore - from the current design throughput capacity of 20 000 t/d of ore.
The expansion considers new equipment for concentrate filtration, thickening and filtering of tailings, as well as upgrades to existing process operations.
Mantos Blancos Phase II also envisions the construction of a new in-pit tailings storage facility beyond 2030.
The submission of the full environmental impact assessment permit application for the expansion project is expected to be followed by the release of a prefeasibility study outlining further project details during the third quarter.
After receiving all environmental approvals and sectoral permits, Capstone plans to start with this expanded production between 2030 and 2031.
