Capstone’s Mantoverde Expansion Set to Boost Copper Production
Capstone Copper (TSX: CS, ASX: CSC) secured crucial environmental approval for its $150 million Mantoverde Optimized (MV-O) project. This permit extends the mine’s life from 19 to 25 years and enables a significant production increase. Once operational, MV-O will raise copper equivalent output to 125,000–135,000 tonnes annually, up from the current 97,000–112,000 tonnes. The expansion also increases concentrator throughput from 32,000 to 45,000 tonnes per day, adding roughly 20,000 tonnes of copper yearly.
Mantoverde Optimized Project Highlights and Strategic Growth
The MV-O project forms the second phase of the Mantoverde Development Project (MVDP), completed in 2023, which introduced processing of copper sulphide reserves. Capstone’s CEO Cashel Meagher highlighted the potential for the Mantoverde-Santo Domingo district to become one of the world’s largest copper-producing regions. The swift approval of the MV-O environmental impact study signals positive momentum for the company’s broader expansion plans, including the Santo Domingo asset. Together, these deposits could yield 250,000 tonnes of copper equivalent per year.
Capstone owns a 70% stake in Mantoverde, with Mitsubishi Materials holding the remaining 30%. The mine features four open pits with both sulphide and oxide ores. The company plans to release a detailed schedule and capital expenditure breakdown soon.
SuperMetalPrice Commentary:
Capstone’s Mantoverde expansion reflects the strategic importance of long-life copper assets amid rising global demand. The increased production and extended mine life enhance Capstone’s competitive positioning in the copper market, crucial for electrification and green technologies. The rapid permit approval indicates robust regulatory support in Chile, encouraging future investments. Investors should watch for detailed timelines and cost forecasts to gauge project execution risks and returns.
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