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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Capstone Copper (TSX: CS) has been awarded the Copper Mark for its Mantoverde and Mantos Blancos operations in Chile.
Copper Mark is a voluntary program that independently assesses conformance with 32 environmental, social and governance requirements. Winners of the award demonstrate best practice in responsible production and contribute to the UN sustainable development goals.
“Responsible operating practices are a vital component of our commitment to the environment, our employees, local communities and governments, and must remain front of mind in everything we do, said Capstone CEO John MacKenzie. “We recognize our role to be a responsible producer of copper given its critical role in supporting decarbonization and electrification efforts, globally.”
Capstone’s Mantoverde copper mine is located in the Atacama region, and the Manos Blancos mine is in the Antofagasta region. The Mantoverde operation is 70% owned by Capstone and 30% by Mitsubishi, while the Manos Blacos project is 100% owned by Capstone.
Both are open pit operations with annual copper cathode capacity of 60,000 tonnes. Expansion at Mantoverde will double capacity to 120,000 t/y cathodes by the end of next year. Likewise, the Manos Blancos project is being considered for additional growth, and a feasibility study is due in the first half of next year.
Capstone is also sole owner and operator of the Pinto Valley copper mine in Arizona and the Cozamin copper mine in Zacatecas, Mexico. The company also has a 70% interest in the feasibility-stage Santo Domingo copper-cobalt project in the Atacama region, and a 49% interest in the Planalto copper project in Para, Brazil.
