12:09 PM EDT, 08/08/2025 (MT Newswires) -- (Updates shares.)

Capstone Copper ( CSCCF ) on Friday said will strart construction of the Mantoverde Optimized project in Chile following board approvals.

According to a statement, the project will expand the throughput of Mantoverde's sulfide concentrator to 45,000 tonnes of ore 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 year, respectively, and extend the mine life from 19 to 25 years.

Capital costs are 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.

Capstone shares were last seen up $0.49 to $9.23 on the Toronto Stock Exchange.

Price: 9.29, Change: +0.55, Percent Change: +6.29