Capstone Copper logs Q4 2024 results with record production and earnings

Grafa02-19

Capstone Copper (ASX:CSC) has announced its financial results for the fourth quarter of 2024, highlighting a strong financial performance with total copper production reaching 53,942 tonnes at a C1 cash cost of $2.56 per pound.

The quarter's production includes 22,029 tonnes from Mantoverde and 13,563 tonnes from Mantos Blancos.

Capstone recorded a net income of $45.9 million, or $0.06 per share.

John MacKenzie, CEO of Capstone, emphasised the achievements of the year, stating, "We achieved record copper production and EBITDA generation in 2024, representing tangible delivery on our peer leading growth," highlighting the company's operational progress and financial strategies.

The full-year copper production in 2024 was 184,460 tonnes, marking a 12% increase compared to the previous year.

The production growth was driven primarily by the ramping up of Mantoverde and Mantos Blancos.

The company's adjusted EBITDA nearly doubled to $171.9 million in Q4 2024 compared to $88.3 million in the same quarter of 2023.

A milestone for the quarter was the commercial production achievement and successful ramp-up of the Mantoverde Development Project, which contributed significantly to the copper output.

The Mantoverde optimised feasibility study is expected to further increase production capacity as the company plans to commence construction in the second half of 2025.

Looking ahead, Capstone Copper's 2025 guidance projects continued growth with expected production of 220,000 to 255,000 tonnes at reduced C1 cash costs of $2.20 to $2.50 per pound, emphasising the company's focus on operational execution and financial stability.

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