Capstone Copper Q3 Adjusted EBITDA US$358.3 million

Capstone Copper (ASX:CSC) reported third quarter 2026 results showing record adjusted EBITDA on higher realized metal prices, while now expecting 2026 copper production at the low end of guidance and C1 cash costs at the high end.

Results are in US dollars on a 100% basis. Consolidated copper production was 45,218 tonnes at C1 cash costs of US$2.95/lb, against 55,280 tonnes at US$2.42/lb in Q3 2025. Revenue was US$712.0 million at a realized copper price of US$6.61/lb, compared with US$598.4 million at US$4.49/lb. Adjusted EBITDA was US$358.3 million against US$249.2 million. Net income attributable to shareholders was US$98.5 million, or US$0.13 per share, against US$248.1 million in Q3 2025, when the comparative period benefited from a non-cash impairment reversal of US$209.5 million. Sulphide production fell 11% to 39,815 tonnes, mainly on unplanned maintenance and a planned shutdown at Pinto Valley. Net debt fell to US$564.0 million from US$780.1 million at December 31, 2025, and total available liquidity was US$1,089.4 million. Capstone completed the sulphide concentrator tie-in for the Mantoverde Optimized Project and agreed to sell Cozamin to Luca Mining Corp. for up to US$385 million.

2026 copper production is expected at the low end of 200,000 to 230,000 tonnes and C1 cash costs at the high end of US$2.45 to US$2.75 per payable pound. The Cozamin sale is subject to customary conditions and regulatory approvals. Adjusted EBITDA and C1 cash costs are non-GAAP measures.