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Capstone Copper to Sell Mexico's Cozamin Mine to Luca Mining

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Capstone Copper (ASX:CSC) agreed to sell its Cozamin copper-silver-zinc-lead mine in Zacatecas, Mexico to Luca Mining in a deal valued at up to $385 million, according to a late Monday statement by the company.

The consideration comprises $275 million in upfront cash, $15 million in Luca shares, $35 million in deferred payments, and up to $60 million in contingent cash tied to annual average copper prices.

The company said it will use the proceeds to bolster its balance sheet and enhance financial flexibility to support its growth pipeline.

The transaction is expected to close in the fourth quarter, subject to customary conditions and regulatory approvals, including Mexican antitrust clearance.

What else is happening in Asia?

Asia

Market Chatter: SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment

SoftBank Group (TYO:9984) has launched $10 billion and 1 billion euros in senior unsecured notes to fund its investment in OpenAI, Reuters reported Monday, citing a term sheet.The dollar-denominated tranches mature in 3.5, 5.5, and 7.5 years, while the euro portions mature in four and six years, the newswire said.The proceeds will finance SoftBank's $10 billion payment for the third tranche of its OpenAI follow-on investment, expected to close on Oct. 1, while the remaining funds will be used for general corporate purposes, the report said.SoftBank Group did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:9984
Asia

Shenzhen Transsion's Hong Kong Listing Application Under Review; Shares Up 4%

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SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

Shanghai Rural Commercial Bank (SHA:601825) received approval from China's National Financial Regulatory Administration to absorb Shanghai Chongming Rural Commercial Bank, according to a Saturday filing with the Shanghai bourse.The listed commercial bank will absorb Chongming RCB's assets, liabilities, institutions, businesses, employees, and other rights and obligations and will dissolve Chongming, according to the filing.

SHA:601825