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Capstone Copper To Sell Cozamin to Luca Mining for $385 Million

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Capstone Copper (CS.TO, CSC.AX) agreed to sell its Cozamin copper-silver-zinc-lead mine in Zacatecas, Mexico, to Luca Mining (LUCA.V) for up to $385 million, it said in a statement on Monday.

The total consideration will be comprised of $275 million in upfront cash, $15 million in Luca shares, $35 million in deferred consideration and up to $60 million in contingent cash consideration tied to annual average copper prices, all subject to certain conditions and terms, it said.

Closing of the deal is expected in the fourth quarter of 2026, subject to some conditions and approvals.

Capstone Copper shares were last seen up 0.9% at CA$14.62 on the Toronto Stock Exchange. Luca Mining shares were up 10.6% at CA$1.15 on the TSX Venture Exchange.

Price: $14.65, Change: $+0.16, Percent Change: +1.10%

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