Capstone Copper (ASX:CSC) released its 2026 operational guidance, outlining a strategic roadmap defined by steady production targets and significant capital investment in its development pipeline.
Coming off a "remarkable" 2025 that saw a 22% year-over-year surge in copper output, the company is positioning 2026 as a pivotal execution year, forecasting consolidated copper production between 200,000 and 230,000 tonnes.
While production remains stable, the company is navigating a shifting cost landscape. Consolidated C1 cash costs are projected to land between $2.45 and $2.75 per payable pound.
Management attributes the anticipated rise to modest inflationary pressures and the scheduled extraction of lower-grade zones at the Mantos Blancos and Pinto Valley sites.
To fuel future capacity, Capstone has committed to a robust capital expenditure program.
Total expansionary spending is set at $225 million, primarily directed toward the Mantoverde Optimised Project and the Santo Domingo Project.
CEO Cashel Meagher highlighted that while 2026 focuses on consistency, the execution of MV-O is the primary engine expected to drive significantly higher production levels by 2027.
The company also plans to finalise a sanctioning decision for the fully-permitted Santo Domingo Project in the latter half of the year.
At the time of reporting, Capstone Copper's share price was $12.98.