Mantoverde-Santo Domingo district integration

Following the expected completion in late 2023 and successful ramp-up of the Mantoverde Development Project (“MVDP”), the Company’s next phase of transformational growth will be a construction decision and integration of the Santo Domingo project.  

In November 2022, Capstone announced the Mantoverde-Santo Domingo (“MV-SD”) District Integration Plan (the “Plan”) to showcase the path towards creating a world-class mining district in the Atacama region of Chile, targeting over 200,000 tonnes per year of low-cost copper production with the potential to also become one of the largest and lowest cost battery grade cobalt producers in the world outside of the Democratic Republic of Congo.  

The Plan presents the opportunity to unlock a total of $80-100 million per year in operating cost savings, while also enabling additional copper and cobalt production – with strategic by-product sulphuric acid production used to treat district copper oxides and fill excess SX-EW capacity,  infrastructure capital savings, and the potential for significant tax synergies through the reinvestment in Chile to support district growth. The combination of key infrastructure already in place alongside an experienced mine building and operating team significantly de-risks the future development of the Santo Domingo Project and the District.