Luca Mining buys Capstone’s Cozamin mine for up to $385m

Luca pays $290m upfront in cash and shares, $35m a year after closing, and up to $60m more if the LME copper price clears set levels in 2027, 2028 and 2029. Closing is expected in the fourth quarter of 2026.

Why it matters. Copper-linked payments let buyer and seller bridge different price views, an earn-out tied directly to the metal.

Source

Mining Weekly

In the course

Module 9: The M&A process