Capstone Copper received environmental authorization from the Atacama Regional Environmental Assessment Commission for its MV Optimized project, an expansion of Mantoverde, an important advance for the sulfide plant and mine development in the region. This permit is the only major environmental approval required to commence operations at the project, allowing the company to move forward with construction pending the board’s decision.
Mantoverde’s expansion of mining capacity
With this approval, the Mantoverde plant will increase its processing capacity from 32,000 to 45,000 tons of ore per day. This productive leap will extend the operating life of the deposit from 19 to 25 years, consolidating its role within the mining cluster of the Atacama region.
The estimated investment for this phase is approximately US$150 million, which will generate an additional 20,000 tons of copper per year. In addition, the execution contemplates the expansion of existing facilities and the use of abandoned industrial land.
The MV Optimized project aligns with Capstone Copper’ s plans to convert the Mantoverde-Santo Domingo district into a global-scale sulfide plant hub. The Santo Domingo project, located less than 30 kilometers away, is fully permitted and operationally complements the Mantoverde complex.
On the other hand, MV Optimized is a capital-efficient, high-return, low-risk expansion project, which is expected to generate an additional 20,000 tons of copper production per year, with expansion capital of approximately US$150 million.
We have been eagerly awaiting this permit and are excited to begin construction, pending the necessary Board approvals, to increase our production capacity by over 40% with very low capital intensity.
Cashel Meagher, president and chief executive officer of Capstone.
During the second quarter of 2025, Capstone has approved purchases of US$20 million in long fabrication equipment for MV-O. The company expects to define the final schedule and capital expenditures in the coming months, once the Board of Directors ratifies the formal start of construction.
This progress is based on the results of the Feasibility Study published in October 2024, which demonstrated the profitability and technical feasibility of the project.
Mantoverde, 70% owned by Capstone and 30% by Mitsubishi Materials Corporation, has evolved from its traditional oxide-based model to a more complex and competitive sulfide-based scheme. As of 2023, the concentrator plant has been increasing its throughput, reaching an average of over 33,000 tons per day by 2025.
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Source and photo: Capstone Copper
