Copper Miner Capstone Provides Capital Guidance for 2017

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Researched by Industrial Info Resources (Sugar Land, Texas)--On Monday, Capstone Mining Corporation (TSX:CS) (Vancouver, British Columbia) presented operating and capital guidance for 2017. The company says it expects to produce approximately 94,000 tonnes of copper from its three mines in 2017. Industrial Info is tracking $253 million of active projects involving Capstone.

Capstone says it expects total capital expenditures to be $67 million in 2017, including $30 million of capitalized stripping, or $0.33 per pound of copper produced. Copper prices increased toward to the end of 2016, following President-elect Trump's plans to build out infrastructure, as well as increased copper imports in China. According to Mining.com China's copper imports increased 30% in December compared to November to 490,000 tonnes. The country set a record in copper imports for 2016 at 4.95 million tonnes, up slightly less than 3% from 2015.

Capstone says its consolidated copper production in 2018-21 is expected to average between 70,000 and 80,000 tonnes of copper at a cash cost in the range of $1.50 to $1.75 per pound of copper. The company has three producing copper mines: The Pinto Valley copper mine in Arizona, the Cozamin copper-silver mine in Mexico and the Minto copper mine in Yukon, Canada.

Among Capstone's projects being tracked by Industrial Info is the $103 million mine and mill expansion at its Minto mine in Canada. The project is aimed to extend the mine's life to 2022 at the 1.4 million-ton-per-year open pit operation. The mill expansion will increase capacity to 4,200 tonnes per day. The project began construction in late 2015 and is expected to be completed by the end of next year.

At the Pinto mine near Miami, Arizona, the company is planning a $150 million mine and mill extension to increase the mining rate from 42.8 million pounds per year to 48.5 million tons per year and extending the mine life to 2039. The project remains in the early planning stages and is not expected to kick off until 2020, taking about two years to complete.

Industrial Info is tracking more than $184 billion in active copper mining projects throughout the world, including more than $36 billion in North America. Join Industrial Info January 31, 2017, for a discussion of trends and drivers in the Metals & Minerals sector in our Global Metals & Minerals webinar. This complimentary event will be held at 9:00 CST (10:00 EST). Make sure to register today!

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.