Mantoverde. (Credit: Capstone Copper)
Capstone Copper (TSX: CS) (ASX: CSC) said it’s going ahead with the costlier-than-expected expansion of a sulphide concentrator at its Mantoverde property in Chile in a move that will add six years to the mine’s life. The stock rose.
Increasing the concentrator’s daily processing capacity from 32,000 to 45,000 ore tonnes will allow the facility to produce 20,000 extra tonnes of copper and 6,000 more ounces of gold a year, Capstone said Friday. it will also extend the mine life to 25 from 19 years.
Dubbed Mantoverde Optimized, the project is now expected to cost $176 million (C$241 million), about 20% more than a previous estimate. Capstone blamed the increase on scope changes and general inflation.
Vancouver-based Capstone is counting on an expanded Mantoverde to help it more than double annual copper output to about 400,000 tonnes in a few years from…
