Capstone Copper has recently shared its production achievements for 2023 and laid out its operational and financial forecasts for 2024, offering a comprehensive overview of its current standing and future directions in the copper mining sector.
In 2023, Capstone Copper met its production targets, with a total copper output of 164,353 tonnes. This performance was highlighted in the fourth quarter, where production peaked at 44,103 tonnes, attributed to the efficient operations across its mining sites. The company’s CEO, John MacKenzie, praised the fourth quarter’s results as the year’s highlight, noting a 10% increase in production and a 7% reduction in cash costs quarter-over-quarter.
Capstone’s copper production stems from various sources, including both sulphide and cathode operations. The Pinto Valley, Cozamin, and Mantos Blancos mines contributed significantly to the sulphide business, while the Mantoverde mine played a crucial role in the cathode business.
For 2024, Capstone has provided detailed guidance, forecasting a notable increase in production, particularly in the second half of the year, following the ramp-up of the Mantoverde Development Project. The company anticipates a total copper production between 190,000 to 220,000 tonnes, with cost efficiencies expected to enhance profitability.
Capstone is set to invest significantly in both sustaining and expansionary capital expenditures, totaling $275 million, with a considerable portion allocated to the Mantoverde Development Project. Additionally, the company plans to invest in capitalized stripping at its open-pit mines and allocate funds towards brownfield and greenfield exploration activities. 
