Capstone Copper Plans More Than $3 Billion in Chilean Investment to Double Copper Output by 2031

Photo Credit: Chilean Ministry of Mining

Capstone Copper has announced an investment plan exceeding US$3 billion for its operations and projects in Chile’s Atacama Region, with the aim of doubling its copper production in the country by 2031.

The plan, announced on October 26 at a ceremony at the company’s Mantoverde operation attended by Chilean President José Antonio Kast, includes investment in the Santo Domingo project, near-term growth initiatives at Mantoverde, mine development, sustaining capital and exploration, according to Chile’s Ministry of Mining.

Santo Domingo represents the largest component, with an estimated investment of US$2.3 billion. The plan also allocates US$220 million to two near-term growth projects at Mantoverde, US$165 million to Mine Development 2026, US$150 million for sustaining capital expenditure, and US$70 million for exploration.

The proposed expansion is expected to increase copper output while extending the company’s development activities in the region. Once the project enters operation, it is expected to support approximately 3,000 direct and indirect jobs, according to the ministry.

The investment is also expected to create opportunities for regional suppliers and businesses. The ministry identified Diego de Almagro, Chañaral and Copiapó among the communities likely to benefit from employment, supplier contracts and related economic activity. It also noted that local workers are expected to account for most of the project’s workforce.

The announcement comes as Chile seeks to attract long-term investment in its mining sector. At the ceremony, Economy and Mining Minister Daniel Mas linked the investment to investor confidence and the government’s efforts to facilitate responsible mining projects and address permitting obstacles.

For Capstone Copper, the plan represents a substantial commitment to expanding its Chilean production base. Its progress will depend on project development and execution over the coming years, with the 2031 production target remaining a future objective rather than an achieved increase.

Source: Chilean Ministry of Mining

SUNSHINE Spotlight: Capstone Copper’s planned investment highlights continued efforts to expand copper supply through new projects and existing mine development. While the additional output is not expected immediately, the plan underscores the scale of capital required to develop primary copper resources as global demand for the metal continues to grow.