Capstone Copper shares have fallen sharply after the company released its production and cost guidance for the 2026 fiscal year. The Canadian-based copper miner saw its stock price tumble nearly 20 per cent on Wednesday. Capstone Copper is focused on copper mining, aiming to grow through operational improvements, expansion projects, and strategic acquisitions. The company operates mines in the Americas and develops projects globally.
According to the provided guidance, Capstone expects consolidated copper production to range between 200,000 and 230,000 tonnes in 2026. This forecast aligns with the 224,765 tonnes of copper produced in the 2025 financial year, indicating largely stable production year-over-year. However, the company anticipates an increase in consolidated C1 cash costs, projecting a range of $US2.45 to $US2.75 per payable pound of copper in 2026.
Capstone attributes the expected cost increase to modest inflation and the impact of lower-grade zones driven by mine sequencing at its Mantos Blancos and Pinto Valley operations. The company also outlined its planned capital expenditures for 2026, earmarking a total of $US495 million for sustaining and expansionary projects across its operating mines and the Santo Domingo Project.
Of the total capital expenditure, $US270 million is allocated to sustaining capital, while $US225 million is designated for expansionary capital projects. By afternoon trade, shares in Capstone Copper were down by 18.1 per cent following the release of the guidance.
