Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) (ASX:CSC) is pleased to announce sanctioning of the Mantoverde Optimized (“MV Optimized” or “MV-O”) project for construction following all required Board approvals. All amounts in this news release are in United States dollars, unless otherwise noted.
MV Optimized is a capital-efficient brownfield expansion of Mantoverde’s sulphide concentrator, increasing throughput from 32,000 to 45,000 ore tonnes per day (“tpd”), providing incremental copper and gold production of approximately 20,000 tonnes and 6,000 ounces per annum, respectively, and extending the mine life from 19 to 25 years.
Cashel Meagher, Capstone’s Chief Executive Officer, commented, “Sanctioning of our MV Optimized project represents a significant milestone on our continued path towards transformational growth. With the required Board and regulatory approvals in-hand, we will now commence construction on our capital efficient, quick payback, and high return expansion project at Mantoverde. MV Optimized represents the next phase of our Mantoverde-Santo Domingo district growth strategy, which aims to expand our world-class mining district in Chile with significant copper production and very attractive unit costs1. Our team is committed to responsible production and ongoing engagement with stakeholders as we progress our growth plans to meet the growing global requirements for copper.”
ADVANCING THE PATH TOWARDS TRANSFORMATIONAL GROWTH
The MV Optimized project is now formally sanctioned for development following receipt of the DIA environmental permit in early July. MV Optimized involves an expansion of Mantoverde’s sulphide concentrator to increase throughput from 32,000 to 45,000 ore tpd. The current process infrastructure at Mantoverde can sustain up to 45,000 ore tpd by debottlenecking minor components of the plant. To support the expanded mining and processing rates, certain mining equipment and plant equipment additions are required.
The Company has advanced the level of detailed engineering to approximately 40% completion, de-risking the project and increasing the degree of certainty in timelines and expansionary capital estimates. Expectations have been updated from those outlined within the MV-O 2024 Feasibility Study to reflect date of sanctioning, key learnings from the ramp-up of the new Mantoverde sulphide concentrator, and the increased level of detailed engineering.
Capstone estimates that the MV Optimized sulphide concentrator expansion construction will require approximately one year, followed by a ramp-up period in Q4 2026. The expanded sulphide throughput capacity of approximately 45,000 ore tpd is expected to be sustained starting in early 2027. The Company expects the construction and ramp-up of the oxide leach optimization to require an additional quarter, with higher cathode production starting in Q2 2027.
Continue at Capstone Copper
