Canada’s Capstone Copper (TSX:CS) (ASX:CSC) has struck a deal worth up to $360 million with Orion Resource Partners, granting the private equity firm a 25% stake in the Santo Domingo and Sierra Norte copper projects in Chile.
The transaction reduces Capstone’s upfront capital requirements at Santo Domingo and strengthens its ability to fund development and exploration across the Mantoverde–Santo Domingo district in Chile’s Atacama region.
Orion will pay $225 million following a positive FID, contribute an additional $75 million within six months, and provide up to $60 million in milestone-based contingent payments. It will also invest $10 million in new Capstone shares at a 5% premium, supporting near-term exploration at both projects.
Capstone chief executive officer Cashel Meagher called Santo Domingo the company’s “next pillar of transformational growth”, highlighting its low…
