Chile copper roundup: Mantoverde and Centinela

Mantoverde project

Canadian company Capstone Copper opened the Mantoverde development project in northern Chile’s Atacama region, which required investment of US$870mn.

The project includes a high-performance mill and concentrator to process sulfide ores and increase annual copper production at the Mantoverde mine from 36,000-40,000t to around 120,000t.

The development of the sulfide resources at the open pit mine, which previously only processed oxide ores, will extend the life of the operation by at least 25 years, Capstone said recently in an investor presentation.

This month saw the first commercial production of copper concentrate from the project and shipments abroad. 

The company also plans the Mantoverde Optimized project with capex of US$146mn, to optimize the treatment plant and the leaching area to add 20,000t/y of copper.

Key to the development initiative will be the expansion of the desalination plant, located 40km from Mantoverde. 

In the meantime, Capstone said it will continue to explore both the Mantoverde deposit and adjacent areas to identify higher copper grades and mineralization at shallower depths.

Cobalt line

A cobalt production line also is being prepared at Mantoverde. Tests are currently being carried out at a pilot plant to improve recovery and solutions to be used in the processes, Capstone said in the document.

Next year it plans to deliver a study on cobalt production with the aim of reaching output of 1,500t/y, which would later be increased to 4,500-6,000t/y with the integration of the Santo Domingo project.

Mantoverde is 70% owned by Capstone and 30% by Japan’s Mitsubishi Materials Corp.

Nueva Centinela

Antofagasta Minerals, meanwhile, is making progress on the expansion of its Nueva Centinela operation further north in Antofagasta region, with the aim of adding 170,000t/y of copper equivalent to current production with a second concentrator.

Last year, Centinela produced 162,700t of copper concentrates and 79,300t of cathodes.

Construction of the US$4.4bn project reached 24% completion this month and recently received more than 30 shipments of equipment and components from China and South Africa, the miner said in a statement last week.

The initiative considers new mining areas and construction is expected to be completed in 2027.

The mine is 70% owned by Antofagasta and 30% by Japan’s Marubeni Corporation.