07:50 AM EDT, 08/08/2025 (MT Newswires) -- Capstone Copper ( CSCCF ) said Friday that it has sanctioned for construction the Mantoverde optimized project in Chile following board approvals.

According to a statement, the project would expand the throughput of Mantoverde's sulfide concentrator to 45,000 ore tonnes per day (tpd) from 32,000 tpd in early 2027. The statement said this will provide incremental copper and gold production of approximately 20,000 tonnes and 6,000 ounces per annum, respectively, and extend the mine life from 19 to 25 years.

Capital cost was estimated at US$176 million.

"Sanctioning of our MV Optimized project represents a significant milestone on our continued path towards transformational growth," CEO Cashel Meagher said. "With the required board and regulatory approvals in-hand, we will now commence construction on our capital efficient, quick payback, and high return expansion project at Mantoverde."

Capstone owns 70% of Mantoverde while Mitsubishi Materials owns the rest.