To boost consolidated copper output by more than 40% Capstone Copper Corp. 
CS overnight Wednesday said commissioning activities are underway at the Mantoverde development project in Chile.
The project is expected to boost consolidated copper output by more than 40% while reducing unit operating costs, the company said.
Capstone said the project is on time and is on track to reach nameplate production levels of 32,000 tonnes per day by mid-2024. The company also reaffirmed $870 million total capital cost guidance.
Capstone also said it plans to apply for a secondary listing on the Australian Securities Exchange in the first quarter of 2024, adding to its existing TSX listing and broadening the company's exposure within the Asia Pacific region's markets.
In addition, the company has appointed Gordon Bell to its board of directors as an independent director. Bell most recently served as vice chairman for the mining and metals group of RBC Capital Markets before he retired in 2022.
Capstone at last look gained 4% in early Thursday trading.
Meanwhile, the expected production at Mantoverde is largely in line with National Bank of Canada's forecast.
The bank said it will look to revise its near-term assumptions for Capstone in line with company guidance.
National Bank gave Capstone an outperform rating with a $6.50 price target.