🇨🇱 Capstone Copper, a Canadian mining company, has approved a significant investment of US$176 million to expand and optimize its Mantoverde copper and gold mine located in Chañaral, Atacama Region, Chile. This strategic project, known as Mantoverde Optimizado (MV-O), aims to increase processing capacity from 32,000 to 45,000 tonnes of ore per day, representing a 40% boost in production capability. The expansion is expected to add approximately 20,000 tonnes of copper and 6,000 ounces of gold annually once operating at full capacity.
The project will extend the mine’s operational life from 19 to 25 years, adding six years of productive activity. Construction is set to begin shortly following approval, with a ramp-up starting in Q4 2026 and full capacity targeted by early 2027. Enhancements include upgrades to mining equipment, milling, flotation, tailings management, desalination, and leaching processes to improve cathode production from mid-2027.
With an incremental cost of about US$9,000 per annual tonne of copper equivalent, the project maintains competitiveness while reinforcing Capstone’s commitment to sustainable mining. The operation already uses 100% desalinated water and plans to source 50% of its energy from renewable sources by September 2025, certified by 100% IREC for renewable electricity consumption.
Economically, the expansion is poised to generate employment and foster sustainable development in the Atacama region. It is aligned with Capstone’s broader strategy in Chile, leveraging synergies with its Santo Domingo project to enhance regional growth and community collaboration. Mantoverde sits at 900 meters above sea level, 56 km southeast of Chañaral and 100 km north of Copiapó, within a world-class mining district.
Key executives highlight the project’s significance: CEO Cashel Meagher calls MV-O a “transformational growth milestone” with efficient capital use and rapid payback. Fernando Garcia Lázaro, Corporate Finance Manager for Capstone Copper Chile, emphasizes regional job creation and sustainable development opportunities. General Manager Óscar Flores confirms construction will start soon, with full operation expected by early 2027, underscoring a commitment to responsible and efficient mining practices.
Owned 70% by Capstone Copper and 30% by Mitsubishi Materials Corporation, Mantoverde is a critical asset in Capstone’s growth plan in Chile and the copper sector. This investment not only boosts production capacity and mine life but also advances environmental stewardship and social responsibility, reinforcing Capstone’s position in the competitive mining industry.
Source(s): https://www.redimin.cl/capstone-copper-avanza-con-inversion-de-us176-millones-en-mantoverde/, https://www.rumbominero.com/chile/chile-capstone-copper-invertira-us176-millones/, https://www.reporteminero.cl/noticia/noticias/2025/08/capstone-inversion-us176-millones-expansion-optimizada-mantoverde, https://capstonecopper.com/news/capstone-copper-announces-sanctioning-of-mantoverde-optimized-project/, https://www.portalminero.com/wp/capstone-copper-aprueba-inversion-para-desarrollo-del-proyecto-mantoverde-optimizado/
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