04:57 PM EST, 01/20/2025 (MT Newswires) -- Capstone Copper ( CSCCF ) after close of trade Monday said its fourth-quarter production rose rose 14% while its annual output fell short of guidance targets.

Capstone said fourth-quarter production rose to 53,942 tonnes with cash costs of approximately US$2.55 to US$2.60 per payable pound of copper.

Annual output rose 12% to 184,458 tonnes, driven by the ramp-up of the Mantoverde Development Project.

"The fourth quarter was an overall record for Capstone's consolidated copper production, with our output up 14% and unit costs down approximately 9% quarter-over-quarter. Although total 2024 consolidated copper production of 184,458 tonnes finished slightly below our guidance range, largely attributable to ramp-up delays at Mantos Blancos and Mantoverde, we exited the year close to design production levels," chief executive John MacKenzie said.

Capstone is forecasting output of 220,000 to 255,000 tonnes of copper for 2025, up by approximately 19% to 38%, while 2025 forecasted C1 cash costs of US$2.20 to US$2.50 per payable pound of copper are expected to decrease by approximately 10% to 20% compared to 2024.

The company's shares closed up $0.27 to $9.09 on the Toronto Stock Exchange.