Capstone Copper Achieves Commercial Production at Mantoverde Development Project

Capstone Copper Corp. announced that the Mantoverde Development Project (MVDP) has reached a significant milestone by achieving commercial production as of September 21, 2024. This milestone was met after the mill operated for 30 consecutive days at an average of 75% of its nameplate throughput capacity of 32,000 ore tonnes per day. Additionally, key metrics such as concentrate grade and recoveries have met or exceeded targets, while mill feed grade has aligned well with the mine plan model.

Despite this achievement, Capstone indicated that consolidated copper production for 2024 is trending toward the lower end of the guidance range of 190,000 to 220,000 tonnes. C1 cash costs are slightly above the initial forecast of US$2.30 to US$2.50 per payable pound, primarily due to delays in the ramp-ups at Mantoverde and Mantos Blancos. However, with the ramp-up at MVDP now successfully completed and Mantos Blancos progressing, Capstone expects the fourth quarter to be the strongest of the year across its portfolio.