Capstone polishes Santo Domingo feasibility study
Dual-listed Capstone Copper has announced the results of an updated feasibility study for its fully-permitted Santo Domingo copper/iron/gold project, in Chile, about 35 km from its 70%-owned Mantoverde mine.
The release of an updated study for the project is a “major step towards the creation of a world-class district in the Atacama region”, says Capstone CEO John MacKenzie.
The 2024 feasibility study outlines a robust copper/iron/gold project with an after-tax net present value, at an 8% discount rate, of $1.7-billion and an after-tax internal rate of return of 24.1%.
Over the first seven years, the mine will produce an average of 106 000 t/y of copper and 3.7-million tonnes a year of iron concentrate at first quartile cash costs of $0.28/lb of copper produced.
Over its 19-year mine life, Santo Domingo will produce an average of 68 000 t/y of copper and 3.6-million tonnes a year of iron concentrate at first quartile costs of $0.22/lb of copper.
The capital cost for Santo Domingo increased from $1.5-billion to $2.3-billion, driving a capital intensity of about $21 900/t of yearly copper-equivalent production of the life-of-mine.
“We have optimised the mine plan, updated the capital and operating cost estimates, and incorporated all experience gained throughout the engineering and construction of our nearby Mantoverde development project,” said MacKenzie.
The company plans to progress several value enhancement initiatives within the Mantoverde-Santo Domingo. These opportunities are not yet incorporated into the base case 2024 feasibility study.
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