Capstone Copper Commits $3 Billion to Double Chilean Output by 2031

Mining News | 2026-10-28 09:24:58

Capstone Copper plans to invest more than US$3 billion in Chile to double its copper production by 2031. The program includes US$2.3 billion for Santo Domingo and approximately US$220 million for Mantoverde expansions, with additional investment in mine development and exploration.

Capstone Copper Commits $3 Billion to Double Chilean Output by 2031

Summary

Capstone Copper Plans $3 Billion Investment in Chile
Capstone Copper intends to invest approximately $3 billion in Chile’s Atacama region to double its copper production in the country by 2031. The investment will focus primarily on developing the Santo Domingo project and expanding the nearby Mantoverde mine.
Santo Domingo Project to Receive Major Investment
The Santo Domingo project, which is in the early stages of construction, will receive $2.3 billion of the planned investment. Sharing infrastructure and operational resources with Mantoverde, located about 35 kilometers away, is expected to improve efficiency and reduce construction and operating costs.
Mantoverde Expansions to Boost Annual Copper Output
Capstone Copper plans two expansion projects at Mantoverde, including the $176 million Optimized Mantoverde project and a separate $45 million pyrite expansion. Together, these projects are expected to increase annual copper production from approximately 95,000 tonnes to 118,500 tonnes and generate additional employment.

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

Capstone Copper has announced plans to invest more than US$3 billion in Chile, targeting a doubling of its copper production in the country by 2031. The investment centers on the Santo Domingo project and expansions at Mantoverde in the Atacama region.

By Paul Ploumis
Published: October 28, 2026
Announcement date: October 26, 2026

Key Points

Investment plan: More than US$3 billion in planned spending in Chile over the coming four years.
Santo Domingo: Approximately US$2.3 billion allocated to the copper project.
Mantoverde: Around US$220 million for two expansion projects.
Production target: Capstone aims to double its Chilean copper output by 2031.

SEATTLE (Scrap Monster): Canadian mining company Capstone Copper has unveiled an investment program exceeding US$3 billion to expand its copper operations in Chile, according to an October 26 announcement by the country's Ministry of Mining.

The investment will focus primarily on developing the Santo Domingo project and expanding the nearby Mantoverde mine, both located in Chile's Atacama region.

The company expects the projects to strengthen its copper production capacity while supporting regional employment and industrial activity.

Santo Domingo to Receive US$2.3 Billion

The largest allocation, approximately US$2.3 billion, is intended for the Santo Domingo copper-iron project, located about 35 kilometers from Mantoverde.

The fully permitted project is designed to produce an average of 106,000 metric tons of copper annually during its first seven years, according to Capstone's feasibility study.

Capstone intends to share selected infrastructure and operational resources between Santo Domingo and Mantoverde to reduce development costs and improve efficiency.

Chilean officials estimate that Santo Domingo's construction phase could require more than 8,000 workers, creating opportunities for local employment and suppliers.

The project is still advancing through financing, engineering and final investment approval preparations.

Mantoverde Expansions Target Higher Copper Production

Capstone plans to invest approximately US$220 million in two near-term projects at Mantoverde.

The US$176 million Mantoverde Optimized project is designed to expand concentrator capacity from 32,000 to 45,000 tonnes of ore per day, adding approximately 20,000 tonnes of annual copper production.

A separate US$45 million pyrite expansion is expected to contribute another 3,500 tonnes of copper annually while reducing sulphuric acid consumption. Completion is targeted for early 2028.

ScrapMonster Edge: Mantoverde Expansion Could Lift Output Nearly 25%

Capstone's two Mantoverde projects are designed to add a combined 23,500 metric tons of copper annually.

Against the approximately 95,000-tonne annual production baseline cited for the mine, that would raise potential output to roughly 118,500 tonnes per year, an increase of nearly 25%.

The distinction: Mantoverde's expansions offer nearer-term production growth, while Santo Domingo represents the much larger long-term investment. The 2031 target depends on successful project execution, financing and commissioning, rather than capacity already brought online.

Additional Spending to Support Chilean Operations

Beyond the two main growth projects, the announced investment program includes approximately US$165 million for mine development, US$150 million for sustaining capital and US$70 million for exploration.

The spending forms part of Capstone's strategy to strengthen its Chilean operations and develop additional copper resources.

Chile's Ministry of Mining said the investments could increase copper production, support local businesses and create additional employment opportunities in the Atacama region.

Capstone's next significant milestone will be progress toward a final investment decision for Santo Domingo, alongside completion and ramp-up of its Mantoverde expansion projects.

Sources: Chile's Ministry of Mining, October 26, 2026 and Capstone Copper's operational disclosures.

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POLL

What is Capstone Copper’s primary objective for its planned $3 billion investment in Chile?

To reduce copper production by 2031

To double copper production in Chile by 2031

To suspend operations at Mantoverde

Frequently Asked Questions

How much does Capstone Copper plan to invest in Chile?

Capstone Copper plans to invest approximately $3 billion in Chile’s Atacama region to double its copper production in the country by 2031. The investment will support the development of Santo Domingo and expansion projects at the existing Mantoverde mine.

How much funding has been allocated to the Santo Domingo project?

Approximately $2.3 billion has been earmarked for Santo Domingo, which is in the early stages of construction. The project is expected to create more than 8,000 construction jobs and around 1,500 jobs once the mine becomes operational.

How will the Mantoverde expansion affect copper production?

The $176 million Optimized Mantoverde project is expected to add 20,000 tonnes of annual copper production, while the $45 million pyrite expansion could contribute another 3,500 tonnes annually. Combined, the projects could raise Mantoverde’s annual output from approximately 95,000 tonnes to 118,500 tonnes.