Capstone Mining plans to build Cobalt concentrate Project with an annual capacity of 4700 tons

SMM: Capstone Mining Company (Capstone Mining Corp) has released a preliminary economic assessment of the project (PEA), plans to recycle cobalt ore for battery production in the Santo Domingo copper-iron-gold-cobalt project in Chile. Capstone owns 70 per cent of the project and (Korea Resources Corp), a South Korean resources company, owns 30 per cent.

Capstone is a Canadian-based metal mining company specializing in copper mines. It owns the Pinto Valley Copper Mine in Arizona and the Cozaming Copper Mine in Mexico. Santo Domingo is a fully permissible open pit project with an average daily production of 60000 tons.

The Santo Domingo project, located 50 kilometers southwest of the Codelco El Salvador copper mine, is scheduled to begin in 2020.

Although the company expects the Santo Domingo project to produce 140 million pounds of copper, 4.2 million tons of iron (65 per cent) and 17000 ounces of gold per year, 10.4 million pounds of associated cobalt is expected to help improve the project's economy.

"if Santo Domingo goes into operation this year, it will produce 4700 tons of cobalt concentrate a year, making Capstone the fourth largest battery-grade cobalt producer outside China and the largest cobalt producer in the Americas," said Capstone CEO Darren Pelot.

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