Capstone Copper is doubling down on its presence in Chile with a massive three billion dollar investment aimed at transforming its operations in the Atacama region. Announced during a ceremony at the Mantoverde mine attended by President José Antonio Kast, the ambitious strategy seeks to double the company’s copper output in the country by 2031. A central piece of this puzzle is the Santo Domingo project, a diverse copper, iron, and gold venture that will require upwards of 8,000 workers at the height of its construction phase.
To maximize efficiency, Capstone intends to treat Santo Domingo and Mantoverde as a single integrated district, allowing the two sites to share critical infrastructure. This synergy is paired with specific upgrades at Mantoverde, where a hundred seventy six million dollar expansion is expected to boost annual copper yields by 20,000 metric tons starting late this year. Additionally, a separate pyrite augmentation project scheduled for 2028 could potentially introduce cobalt production into the site’s portfolio.
This aggressive pivot toward Chilean growth comes as Capstone streamlines its global assets. The company recently agreed to sell its Cozamin mine in Mexico to Luca Mining for up to 385 million dollars, a move designed to fortify its balance sheet and fund these upcoming developments. Chief Executive Cashel Meagher described the timing as ideal for refining their portfolio while pursuing transformational growth across both Chile and the United States.
Further cementing its footprint in the region, Capstone recently acquired the San Pietro copper concessions for 25 million dollars in shares. These lands bridge several existing properties and add significant mineral resources to the company’s books. By consolidating land holdings and investing heavily in local capacity, Capstone is positioning itself as a dominant force in one of the world’s most productive mining corridors.