Capstone Copper Corp. said it introduced first ore to the grinding circuit at its Mantoverde Development Project (MVDP) in Chile in March. The company said this represents the completion of a key commissioning event and a further derisking step for the project, as it focuses on ramping up the $870 million project. It said MVDP is on track to produce saleable concentrate during Q2 2024 and achieve nameplate capacity by Q3 2024.
“We are pleased with the progress to date as we work towards a safe and efficient ramp-up of MVDP,” said John MacKenzie, CEO, Capstone Copper. “Mantoverde is a transformational asset for Capstone, driving significant production growth and margin expansion across our portfolio.”
MVDP is expected to enable the mine to process 236 million metric tons (mt) of copper sulphide reserves, which represent approximately 20% of total sulphide resources, over a 20-year expected mine life, in addition to existing oxide reserves. The MVDP involves the addition of a 32,000 mt/d sulphide concentrator and a tailings storage facility, and the expansion of the existing desalination plant and other minor infrastructure.