en.Wedoany.com Reported - Capstone Copper recorded adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $354 million in the second quarter of 2026, setting a company record, driven primarily by strong performance at its operating assets in Chile. Revenue rose 36% year-over-year during the period, with Mantoverde and Mantos Blancos providing the main support, while the portfolio of growth projects continued to advance.
The quarter's key highlight centered on the Mantoverde project in the Atacama Region, which achieved record sulfide copper production of 18,190 tonnes. The concentrator plant processed an average of 36,264 tonnes of ore per day, exceeding design capacity by 13%; daily throughput reached a historic peak of 40,378 tonnes in June. Metallurgical recovery improved to 90.2%.
Mantos Blancos produced 12,482 tonnes of copper during the quarter. Total output declined due to lower ore grades and reduced sulfide recovery rates, but cathode copper production grew 56%, driven by higher throughput and increased leach ore grades.
Beyond current results, Capstone Copper's expansion projects in Chile are also progressing. The MV Optimized project, an expansion of the Mantoverde concentrator plant, is set to commence in the third quarter of this year, aiming to increase daily processing capacity from 32,000 tonnes to 45,000 tonnes, adding approximately 20,000 tonnes of copper and 6,000 ounces of gold annually, while extending mine life from 19 to 25 years.
The company also approved the Mantoverde Pyrite Augmentation project. Once implemented, this project is expected to reduce sulfuric acid consumption by approximately 20% and increase annual cathode copper production by about 3,500 tonnes, while also being viewed as the first step toward developing cobalt production within the Mantoverde-Santo Domingo district in the future.
The Santo Domingo project, also located in the Atacama Region, is currently advancing detailed engineering, infrastructure optimization, and exploration work, with drilling progress exceeding 28,500 meters. The final investment decision remains planned for the fourth quarter of 2026.
The Mantos Blancos Phase II project has entered the environmental impact assessment system. The plan aims to expand concentrator plant capacity and increase cathode copper production through the recovery and recycling of historical materials, with the expansion expected to commence between 2030 and 2031.
Based on the above progress, Capstone Copper reaffirmed its growth strategy in Chile, maintaining strong operational performance while steadily advancing its various expansion projects.
