Capstone Copper Corp (ASX: CSC) shares are having a strong finish to the week.
In morning trade, the ASX copper stock is up 7% to $15.64.
Why is this ASX copper stock jumping?
Investors have been buying this copper miner's shares after it released a strong production update.
According to the release, on a consolidated basis, Capstone Copper achieved its annual copper production guidance for FY 2025, delivering record annual copper production of 224,764 tonnes.
It notes that consolidated copper production increased by 22% compared to FY 2024 and by 37% compared to FY 2023. This was driven by the ramp-up of the Mantoverde Development Project (MVDP) and the Mantos Blancos debottlenecking project.
For the fourth quarter of FY 2025, the ASX copper stock also achieved record quarterly consolidated copper production of 58,273 tonnes. Management revealed that both Mantoverde and Mantos Blancos delivered record production during the quarter. This was supported by Pinto Valley achieving its strongest quarter of production during 2025 and a solid performance from Cozamin. The latter delivered its third year in a row of increased annual copper production.
Commenting on its performance, the ASX copper stock's president and CEO, Cashel Meagher, said:
2025 marked an inflection point for Capstone, with the successful execution of several key catalysts delivering transformational copper growth. For the fourth year in a row, we achieved record consolidated copper production, driving a 22% increase in output year-over-year. 2025 consolidated copper production of 224,764 tonnes finished within our guidance range, as we navigated ramp-ups at our two mines in Chile and a severe drought in central Arizona.
During 2025, we delivered a number of milestones supporting our growth trajectory, including sanctioning construction of the Mantoverde Optimized Project, announcing a partner for the Santo Domingo Project, reporting strong results from the first phase of a new exploration program initiated in the Mantoverde-Santo Domingo district, and completing our balance sheet re-financing strategy. In 2026, we are focused on disciplined execution and reliable results, positioning the Company for its next phase of value-accretive growth.
Strike action
The ASX copper stock also provided an update on the union strike at Mantoverde.
Unfortunately, Union #2 currently remains on strike. However, the Mantoverde operation has been able to continue to operate successfully since the initiation of the strike, with copper production maintained at approximately 75% of normal levels to date.
It notes that it "will continue to comply with all applicable legal processes, respect the rights of all its employees, encourage constructive engagement with the union, and cooperate fully with the relevant authorities by providing any requested information."
