Canadian Mining Journal

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COPPER: Capstone offers 2017 operating and capital guidance



VANCOUVER – Capstone Mining Corp. has provided its operating and capital expenditure guidance for 2017. It foresees production of 94,000 tonnes (±5%) from its three copper mines – Minto in the Yukon, Pinto Valley in Arizona, and Cozamin in Mexico.

The six ball mills at the Pinto Valley mill.

At the Minto mine where 19,000 tonnes will be produced, the all-in sustaining cost per pound will be between $1.65 and $1.75 (all US dollars). Target production at Cozamin is 14,000 tonnes at an AISC of between $1.90 and $2.00 per pound. Pinto Valley is the largest operation at 61,000 tonnes of copper, but it is also the most expensive, with an AISC of $2.10 to $2.20 per pound.

Capital spending at the three mines is budgeted for $67 million this year, none of which is earmarked for Minto. A mere $18 million in sustaining capital will be spent at Cozamin, and Pinto Valley will receive the rest – $17 for sustaining capital, $2 million for development, and $30 million for stripping.

Capstone has also outlined $10 million for its exploration programs in 2017. The amount is to be equally split between Cozamin and greenfield work in Chile.

Additional information is posted at www.CapstoneMining.com in the Jan. 16, 2017, news release.