Union #2 in Mantoverde, representing approximately 22% of the total workforce, continues with a strike that started on January 2 . Capstone Copper remains willing to engage in discussions to reach a resolution with Union #2. The company will continue to adhere to legal procedures, respect the rights of all its employees, invite the union to enter into a constructive dialogue and provide the authorities with all requested information. At Mantoverde, Capstone Copper is committed to the highest standards of integrity and transparency, which delivers great benefits to its workforce and surrounding communities.
About Capstone Copper Corp.
Capstone Copper Corp. is an American-focused copper mining company headquartered in Vancouver, Canada. Capstone’s operating asset portfolio includes the Pinto Valley copper mine in Arizona, USA, the Cozamin copper silver mine in Zacatecas, Mexico, the Mantos Blancos copper silver mine in the Antofagasta region, Chile, and the Mantoverde copper gold mine located in the Atacama region, Chile. Capstone’s growth pipeline includes the fully permitted Santo Domingo copper-iron-gold project, approximately 35 kilometers northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas.
Capstone Copper’s strategy is to unlock transformational growth in copper production while delivering cost and operational improvements through innovation, optimization and safe and responsible production across our portfolio of assets. We focus on profitability and disciplined capital allocation to increase stakeholder value. We strive to create a positive impact in the lives of our people and local communities, while delivering compelling returns to investors by responsibly producing copper to meet the world’s growing needs.
Further information is available at www.capstonecopper.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date hereof and the Company does not intend, and assumes no obligation, to update these forward-looking statements, except as required under applicable securities laws. In certain cases, forward-looking statements can be identified by the use of words such as “anticipates”, “approximately”, “believes”, “budget”, “estimates”, “expects”, “predicts”, “guidance”, “intends”, “plans”, “scheduled”, “target”, or variations of such words and phrases, or statements that certain actions, events or results “may be achieved”, “may”, “might”, “might occur”, “should”, “will be taken” or “would” or the negative of these terms or similar terminology. In this document, certain forward-looking statements are identified by words such as “expected”, “expected”, “guidance” and “plan”. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations regarding operations during the strike and its approach to resolution and procedures related to the strike.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks associated with the inability to resolve the labor stoppage, the inability to operate at expected capacity during the strike, inherent hazards associated with mining operations and the closure of mining projects, future prices of copper and other metals, compliance with financial covenants, inflation, escrow, the Company’s ability to raise capital, Capstone Copper’s ability to acquire real estate for growth, counterparty risks associated with the sale of the Company’s metals, the use of financial derivatives and associated counterparty risks, foreign currency exchange rates. fluctuations, market access restrictions or tariffs, changes in U.S. laws and policies regulating international trade, including but not limited to changes in or implementation of tariffs, trade restrictions or responsive measures by foreign and domestic governments, changes in the cost and availability of goods and raw materials, along with supply, logistics and transportation restrictions, changes in general economic conditions including market volatility due to uncertain trade policies and tariffs, availability and quality of water and energy resources, accuracy of estimates of mineral resources and mineral reserves, operating in foreign jurisdictions subject to the risk of changes in government regulations, compliance with government regulations and exchange rules, compliance with environmental laws and regulations, reliance on approvals, licenses and permits from government agencies and potential legal challenges to permit applications, contractual risks, including but not limited to the Company’s ability to meet requirements under the Cozamin Silver Stream Agreement with Wheaton Precious Metals Corp. (“Wheaton”), the Company’s ability to meet certain closing conditions under the Santo Domingo Gold Stream Agreement with Wheaton, which acts as indemnitor for Minto Metals Corp.’s escrow obligations, the impact of climate change and changes in climatic conditions on the Company’s operations and projects, changes in regulatory requirements and policies relating to climate change and greenhouse gas emissions (“GHGs”), land reclamation and mine closure obligations, introduction or increases in carbon or other ‘green’ taxes, claims to indigenous property rights and rights to consultation and accommodation, risks related to widespread epidemics or pandemic outbreaks; the impact of outbreaks of communicable diseases on the Company’s workforce, risks related to construction activities at the Company’s operations and development projects, suppliers and other essential resources and what effect these consequences, if they materialize, would have on the Company’s operations, including the Company’s ability to access goods and supplies, the ability to transport the Company’s products and the impact on employee productivity, the risks associated with Capstone Copper’s operations, cash flow and results with respect to the unknown duration and impact of the epidemics or pandemics, impacts of inflation, geopolitical events and the consequences of disruptions to the global supply chain, uncertainties and risks related to the potential development of the Santo Domingo development project, risks related to the Mantoverde Development Project (“MVDP”), increased operating and capital costs, increased costs of reclamation, challenges in gaining ownership of the Company’s mineral properties, increased taxes in jurisdictions where the Company operates or is subject to tax, changes in tax regimes to which we are subject to and any changes in the law or interpretation of the law may be difficult to respond to in an efficient manner, maintaining an ongoing social license to operate, seismicity and its impact on the Company’s operations and the communities in which we operate, dependence on key management personnel, the Toronto Stock Exchange (“TSX”) and the Australian Securities Exchange (“ASX”) with a list of compliance requirements, potential conflicts of interest involving the Company’s directors and officers, corruption and bribery, limitations inherent in insurance coverage of the Company, labor relations generally, rising input costs such as those associated with sulfuric acid, electricity, fuel and supplies, rising inflation rates, competition in the mining industry, including but not limited to competition for skilled labor, risks associated with joint venture partners and non-controlling shareholders or associates, the Company’s ability to integrate new acquisitions and new technology into the Company’s operations, cybersecurity threats, legal proceedings, the volatility of the price of its common stock, the uncertainty of maintaining a liquid trading market for the common stock, risks related to dilution to existing shareholders if stock options or other convertible securities are exercised, Capstone Copper’s history of failure to pay dividends and the expectation of failure to pay dividends in the foreseeable future and sales of common stock by existing shareholders could reduce trading prices and other risks of the mining industry, as well as the factors described from time to time in the Company’s interim and annual financial statements and the MD&A of those statements and the Annual Information Form, all of which have been submitted and are available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca . Forward-looking statements relate to future events or future performance and reflect the Company’s expectations or beliefs regarding future events and are based on a number of assumptions, including those described from time to time in the Company’s interim and annual financial statements and the MD&A of those statements and the Annual Information Form, all of which are filed and available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca . Although the Company has attempted to identify important factors that could cause the Company’s actual results, performance or achievements to differ materially from those described in the Company’s forward-looking statements, there may be other factors that cause the Company’s results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that the Company’s forward-looking statements will prove to be accurate as the actual results, performance or achievements of the Company could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the Company’s forward-looking statements.
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Daniel Sampieri, Vice President of Investor Relations
437-788-1767
dsampieri@capstonecopper.com
Michael Slifirski, Director of Investor Relations, APAC Region
61-412-251-818
mslifirski@capstonecopper.com
Claire Stirling, Investor Relations Manager
416-831-8908
cstirling@capstonecopper.com
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