Capstone Copper Sells Cozamin Mine for Up to US$385 Million
Capstone Copper has agreed to sell its Cozamin mine in Mexico for up to US$385 million. The transaction includes US$275 million in upfront cash, US$15 million in Luca shares, and US$35 million in deferred consideration. This sale is subject to customary conditions and regulatory approvals.
Capstone Copper will receive the US$275 million upfront cash on a cash-free and debt-free basis, assuming a normalised level of working capital as of October 31, 2026. The transaction also includes up to $60 million in contingent cash consideration linked to annual average copper prices over three years.
The sale is expected to close in the fourth quarter of 2026, with ownership transferring from Capstone Copper to Luca Mining. This deal marks another significant development in the company's efforts to grow its Americas-focused copper mining portfolio.