Capstone Sells Cozamin Mine to Luca for Up to $385 Million

Capstone Copper Corp. has announced that it will sell its Cozamin copper-silver-zinc-lead mine in Zacatecas, Mexico to Luca Mining Corp. for up to $385 million in total consideration.

The transaction includes a $275 million upfront cash payment, $15 million in Luca shares, and $35 million in deferred consideration that will be paid on the first anniversary of closing.

The deal also includes contingent cash consideration tied to annual average copper prices, with up to $60 million payable following the end of each of 2027, 2028, and 2029 calendar years.

Cashel Meagher, Capstone's President and Chief Executive Officer, stated that Cozamin has been an important part of their portfolio, providing stability and strong cash flows. He expressed confidence that Luca will be well-positioned to unlock the mine's full potential under its ownership.