Mantoverde makes workers new offer as strike continues
Capstone Copper's Mantoverde copper and gold mine in northern Chile said on Wednesday it presented a new contract offer to workers in a bid to end a strike that began in early January, after talks over new labor contracts broke down.
The offer, which the union says is worse than a previous proposal, includes paying out the equivalent of $17400 per worker, the company said.
Members of Union 2 have been on strike since January 2 after formal negotiations broke down. The dispute has shown little signs of progress following the occupation of the mine's desalination plant by a group of striking workers more than 10 days ago.
"This Wednesday, the company presented its new, finalized offer as a gesture of good faith to end the dispute," the mining company, owned by Canada's Capstone Copper, said in a statement.
The company said the proposal also includes a 1% wage increase, along with other benefits, and called for "the immediate restoration of control over its facilities and the end of the blockade."
The union said in a statement that the new proposal "represents a significant step backward" from a proposal made on January 8, both in permanent conditions and the termination bonus.
It added that the proposal will be presented to union members on Thursday and a vote will be held within the next five days.
In 2025, Mantoverde produced 62 308 tons of copper sulfide concentrate and 32 807 tons of copper cathodes, accounting for about 0.4% of global copper production.
The work stoppage comes at a time when copper markets are highly sensitive to potential supply disruptions, with prices at record highs amid expectations of strong future demand.
