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MVDP

The Mantoverde Development Project (“MVDP”) represents a transformational expansion of our Mantoverde mine in Chile to process sulphide ore via a copper concentrator, in addition to the mine’s oxide ore processing capabilities. The $870 million project produced first copper concentrate in June 2024, achieved commercial production levels in September 2024, and ramped up to full milling rates by the end of 2024. The MVDP is expected to drive significantly higher consolidated production at lower unit costs for Capstone Copper.