Capstone Copper Plans $3 Billion Chile Investment to Double Output by 2031

SEATTLE (Scrap Monster): Capstone Copper plans to invest approximately $3 billion in Chile’s Atacama region to double its copper production in the country by 2031, according to the Chilean mining ministry. The investment will focus on developing the Santo Domingo project and expanding output at the nearby Mantoverde mine.

Santo Domingo, which is in the early stages of construction, will receive the largest portion of the spending, with $2.3 billion earmarked for the project. The company also plans to allocate $220 million to two expansion projects at Mantoverde.

Capstone intends to share infrastructure and operational resources between Santo Domingo and Mantoverde, located approximately 35 kilometers apart. This will improve efficiency and reduce construction and operating costs, officials noted.

Construction at Santo Domingo is expected to create more than 8,000 jobs, while the operating mine is expected to create around 1,500 jobs. Chilean officials anticipate broader economic benefits through increased copper production, employment, business activity and tax revenues.

At Mantoverde, the $176 million Optimized Mantoverde project is already under construction and is expected to add 20,000 tonnes of annual copper production to the mine’s existing output of approximately 95,000 tonnes. A separate $45 million pyrite expansion is projected to contribute another 3,500 tonnes of copper annually. Together, the expansions could raise Mantoverde’s annual copper output to approximately 118,500 tonnes.