Capstone Copper (TSX: CS; ASX: CSC) has introduced the first ore to the new mineral processing plant at the $870 million Mantoverde development project in the Atacama region of Chile. The project – including a new concentrator, tailings management facility, and doubled desalination plant – came in on budget at $870 million.
The project is 70% owned by Capstone and 30% by Mitsubishi Materials.
John MacKenzie, Capstone’s CEO, said, “I am pleased with the progress to date as we work towards a safe and efficient ramp-up of the Mantoverde development project. In March we saw first ore through the grinding circuit, and we remain on track for first saleable concentrate during the second quarter of 2024.
“Mantoverde is a transformational asset for Capstone, driving significant production growth and margin expansion across our portfolio,” he added.
The Mantoverde project consists of four open pits and the new 32,000 t/d mill. Together they will extend the life of the project to 2042. The mill will treat primarily sulphide ore, producing a 29.6% copper concentrate. Oxide ore will continue to be heap leached. The existing solvent extraction/electrowinning (SX/EW) circuit, which has a capacity of 132.3 million lb. of copper annually, will remain in service.
Capstone is planning a second phase of expansion for the concentrator. Phase two will evaluate adding a second processing line to the mill, boosting throughput by 77%.
For a virtual tour of the Mantoverde development project please click here.
