Capstone Copper Invests $3 Billion to Double Chile Production

Capstone Copper will invest $3 billion in the Atacama region of Chile to double its copper production by 2031. The investment plan allocates $2.3 billion to the Santo Domingo copper project, which is currently in early construction, and approximately $220 million for two expansion projects at the Mantoverde mine.

The Mantoverde expansions consist of the $176-million Optimized Mantoverde project and a $45-million pyrite expansion. The pyrite project may introduce cobalt production by early 2028. To reduce costs, the company intends to share infrastructure between the Santo Domingo and Mantoverde sites.

Additional funding includes $165 million for mine development, $150 million for sustaining capital, and $70 million for exploration. Construction at Santo Domingo is expected to employ over 8,000 workers, with 1,500 permanent jobs created once the site is operational. Daniel Masur, Chile's Economy and Mining Minister, highlighted the investment's benefits for national tax revenue and employment.