Capstone Copper Ratified Mantoverde Mine Expansion in Chile

Mantoverde, located in Chile’s Atacama region, is 70%-owned by Capstone and 30%-owned by Mitsubishi Materials.

SEATTLE (Scrap Monster): Capstone Copper declared that the Mantoverde Optimised (MV-O) project in Chile has been approved for construction. This comes after obtaining the required board and regulatory approvals. MV-O represented the next phase of Capstone's Mantoverde-Santo Domingo district growth strategy.

The goal of the extension project is to increase Mantoverde's sulphide concentrator's throughput from 32,000 t/d to 40,000 t/d. About 20,000 t/y of incremental copper and 6,000 oz/y of gold are anticipated to be delivered. It will also increase the mine's lifespan from 19 to 25 years.

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Nearly 40% of the detailed engineering work is finished. The construction of the concentrator expansion is anticipated to take around a year. Early Q4 2026 is when the ramp-up is anticipated to begin, and early 2027 is when the entire additional capacity is anticipated to go online.

From the 2024 feasibility study estimate, the expansion project's expected capital investment has increased by over $20 million to around $176 million. Following the project's approval, Capstone increased its expansionary capital projection from $60 million to $120 million. Additionally, Mantoverde has been allocated $70 million from the aforementioned funds.

Capstone owns 70% of Mantoverde, which is situated in the Atacama area of Chile, while Mitsubishi Materials owns 30%. 

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