India, Sept. 21 -- Luca Mining Corporation (LUCA.V), a Canadian miner, said on Monday that it has inked a deal with Capstone Copper Corporation to buy Cozamin Mine in Zacatecas, Mexico, for an upfront $290 million and up to an additional $95 million in deferred and contingent consideration.
Luca will acquire Cozamin from a Mexican subsidiary of Capstone. The acquirer said it will fund the acquisition through bought deal private placement of subscription receipts, and concurrent private placement, loan facility, and others. The transaction is expected to be closed in the fourth quarter of 2026.
Cozamin is an underground copper-silver mine with 20 years of continuous production. The acquisition is expected to more than double Luca's fiscal ...