Capstone Copper faces strike at Mantoverde mine in Chile

Jan 1 (Reuters) - Canada-based Capstone Copper CS.TO said on Thursday that a union representing about half the workers at its Mantoverde copper and gold mine in Chile and roughly 22% of the company's total workforce will launch a strike on January 2.

The copper miner said it had sought to reach a new collective bargaining agreement before the strike notice and will gradually scale down operations at the mine in a safe manner. Output is expected to run at up to 30% of normal levels during the stoppage, it added.

Capstone said it remains open to talks to resolve the dispute.

Mantoverde is 70% owned by Capstone and 30% by Mitsubishi Materials 5711.T. The mine is forecast to produce between 29,000 and 32,000 metric tons of copper cathodes in 2025.