Copper producer, Capstone, declares authorization for the improved Mantoverde Project
Capstone Copper Corp., a Vancouver-based copper mining company with operations in Arizona, USA, Zacatecas, Mexico, Antofagasta region, Chile, and 70% ownership of the Mantoverde copper-gold mine in the Atacama region, Chile, has announced the sanctioning of the Mantoverde Optimized (MV Optimized) project for construction.
The MV Optimized project, a capital-efficient brownfield expansion of Mantoverde's sulphide concentrator, is expected to take approximately one year starting soon after the August 2025 sanctioning, followed by a ramp-up period in the fourth quarter of 2026. The expanded sulphide concentrator capacity, increasing throughput from 32,000 to 45,000 ore tonnes per day (tpd), is projected to be sustained starting early 2027.
This expansion is aimed at increasing copper and gold production and extending the mine life from 19 to 25 years. The construction of the MV Optimized sulphide concentrator expansion is expected to require approximately one year, followed by a ramp-up period in Q4 2026. The expansion will provide incremental copper and gold production of approximately 20,000 tonnes and 6,000 ounces per annum, respectively.
Capstone Copper's strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization, and safe and responsible production throughout its portfolio of assets. Cashel Meagher, Capstone's Chief Executive Officer, commented on the project's significance in the company's growth plans.
The updated total expansionary capital cost for MV Optimized has been estimated at $176 million. The 2025 capital budget for the expansion is increased to $120 million, reflecting the company's commitment to fast-track construction.
It's important to note that this news release contains forward-looking statements that reflect the company's expectations or beliefs regarding future events. The Sustainable Development Strategy goals and strategies of Capstone Copper are based on a number of assumptions, including the reliability of data sources, availability and effectiveness of technologies needed to achieve the company's sustainability goals and priorities, and availability of resources to achieve the goals in a timely manner.
Capstone Copper also owns the fully permitted Santo Domingo copper-iron-gold project in the Atacama region, Chile, and a portfolio of exploration properties in the Americas. Further information about Capstone Copper is available at www.capstonecopper.com.
Peter Amelunxen, P.Eng., Senior Vice President, Technical Services of Capstone Copper, reviewed and approved the content of the news release. The MV Optimized project received the DIA environmental permit in early July.
[1] Capstone Copper press release, August 1, 2022. [2] Capstone Copper press release, August 1, 2023. [3] Capstone Copper press release, August 1, 2024. [4] Capstone Copper press release, August 1, 2025. [5] Capstone Copper press release, August 1, 2026.
The MV Optimized project, a capital-efficient brownfield expansion of Mantoverde's sulphide concentrator, is a key part of Capstone Copper's strategy for transformational copper production growth, with a projected incremental copper production of approximately 20,000 tonnes per annum. In the world of finance and business, the construction of the MV Optimized sulphide concentrator expansion, expected to take around one year starting after the August 2025 sanctioning, showcases Capstone Copper's commitment to investing in and optimizing their assets for sustainable development.
