Capstone Copper to See Significant Growth in 2024, Bolstered by Mantoverde Mine

Capstone Copper (TSE: CS) is expected to see robust growth in copper production and revenue in 2024, driven primarily by the Canadian mining company’s Mantoverde mine in Chile. The company began commissioning activities at its Mantoverde Development Project (MVDP) in December 2023, which is expected to increase copper production at the mine by +67% year over year and boost revenue by +118%. Mantoverde is the company’s second-largest copper-producing mine with an estimated copper volume of 59,000 ounces of copper in 2024, second only to its Pinto Valley mine in Arizona, which is expected to produce 62,000 ounces of copper (up +13% YoY). Overall, the company’s total revenue in 2024 is expected to grow by +38% year over year, a sharp increase compared to the +4% growth seen last year. Similarly, total copper production volume is expected to increase by +22% in 2024, up from +3% last year.

Mantoverde, an open-pit mine, is 70% owned by Capstone Copper and has an attributable net asset value (NAV) of $2.1 billion while Pinto Valley is 100% owned and has an attributable NAV of $1.4 billion as of June 24, 2024. For deeper asset-level intelligence on Capstone Copper and other mining companies check out our new Net Asset Value page on Visible Alpha Insights.