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Capstone Copper Achieves 9-Month 2022 Production and Cost Guidance and Provides 2023 Guidance
All amounts in US$ unless otherwise indicated VANCOUVER, British Columbia / Feb 01, 2023 / Business Wire / Capstone Copper Corp. (“Capstone” or the “Company”) (
About this update from Capstone Copper Corp.
[{"type":"text","content":"All amounts in US$ unless otherwise indicated VANCOUVER, British Columbia / Feb 01, 2023 / Business Wire / Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) today announced consolidated copper production for 2022 and provided operations and capital expenditure guidance for 2023. Consolidated Copper Production for the nine-month period April 1 to December 31, 2022 Capstone achieved its production and cost guidance for the nine-month period ended December 31, 2022. Consolidated copper production was 136.3 thousand tonnes at C1 cash costs1,2 of $2.68 per payable pound of copper produced. For Q4 2022, consolidated copper production was 45.5 thousand tonnes at C1 cash costs1,2 of $2.50 per payable pound of copper produced. John MacKenzie, CEO of Capstone, commented, “We had a strong finish to 2022 with consolidated cash costs down 9% quarter-over-quarter, helped by cost control at our operations and increased contribution of lower cost sulphide production. Our growth in high-margin sulphide production will be significantly boosted by the ramp-up of the Mantoverde Development Project next year, a transformational project for Capstone that remains on budget and on schedule for completion by year-end 2023.” 2023 Production and Costs Guidance Copper Production (‘000s tonnes) C1 Cash Costs1 (US$ per payable lb Cu Produced) Sulphide Business Pinto Valley 56.0 – 62.0 $2.40 – $2.60 Cozamin 23.0 – 25.0 $1.50 – $1.65 Mantos Blancos 45.0 – 51.0 $2.20 – $2.40 Total Sulphide 124.0 – 138.0 $2.15 – $2.35 Cathode Business Mantos Blancos 10.0 – 12.0 $2.85 – $3.00 Mantoverde* 36.0 – 40.0 $3.50 – $3.70 Total Cathode 46.0 – 52.0 $3.35 – $3.55 Consolidated Cu Production 170.0 – 190.0 $2.50 – $2.70 *Mantoverde production shown on a 100% basis The Mantoverde Development Project is progressing well and remains on track for commissioning and feeding first ore to the mill in late 2023. Total projected capital cost remains unchanged at $825 million. Consolidated C1 cash costs1 are expected to decline in 2023 compared to 2022 due to an increased proportion of lower-cost copper production from concentrates versus higher-cost copper cathode. This will be driven primarily by increased thr...