On the Fourth Batch of Government Stockpiles of Copper, Zinc and Aluminium

Capstone Copper Corp. (TSX: CS; ASX: CSC) agreed on 21 September 2026 to sell its Cozamin copper-silver-zinc-lead underground mine in Zacatecas, Mexico, to Luca Mining Corp. (TSXV: LUCA) for total consideration of up to US$385 million. The package comprises US$275 million upfront cash, US$15 million in Luca shares, US$35 million deferred to the first anniversary, and up to US$60 million in contingent cash tied to annual average copper prices. Cozamin is forecast to average 20,000 tonnes of copper and 1.3 million ounces of silver annually between 2023 and 2030 at C1 costs of about US$1.51 per payable pound. Closing is targeted for the fourth quarter of 2026, requires no shareholder vote, and strengthens Capstone's balance sheet for growth projects in Chile and the United States.

[SMM Analysis: Imports Down, Exports Up, China's Net Copper Cathode Imports Fell in August 2026] According to data from the General Administration of Customs, China imported 210,200 mt of copper cathode in August 2026, down 14.24% MoM and down 20.48% YoY...