Canadian mining company Capstone Copper has announced plans to invest approximately US$3 billion in Chile’s Atacama region, reinforcing its long-term commitment to one of the world’s most significant copper-producing areas.
According to Chile’s Ministry of Mining, the investment programme is centred on the development of the Santo Domingo Project, which will receive US$2.3 billion in funding. A further US$220 million will be allocated to two near-term development projects at the company’s Mantoverde operation.
The investment is expected to substantially increase Capstone’s production profile in Chile, with the company targeting a doubling of its copper output in the country by 2031.
A key component of the strategy is the advancement of the Santo Domingo Project, regarded as one of Chile’s most important undeveloped copper and iron projects. Construction activities are anticipated to create significant employment opportunities, with workforce requirements expected to exceed 8,000 workers at peak construction.
The announcement highlights continued confidence in Chile’s mining sector, particularly within the Atacama region, which remains a focal point for global copper investment as demand for the metal continues to grow, driven by electrification, renewable energy infrastructure and the expansion of electric vehicle manufacturing.
Once completed, the Santo Domingo and Mantoverde developments are expected to strengthen Capstone Copper’s position as a major producer in South America while contributing significantly to Chile’s long-term copper production growth.