Canada’s Capstone Mining and Chile’s Mantos Copper have announced they are joining forces to become a major interna-tional copper producer.
“Upon completion of the Transaction, Mantos will be renamed Cap-stone Copper Corp., and will remain headquartered in Vancouver, B.C. Capstone Copper will apply to the Toronto Stock Exchange to list the Capstone Copper shares on the Toronto Stock Exchange,” the Canadian company said in a statement. “Upon completion of the Transaction, former Capstone and Mantos shareholders will collec-tively own 60.75% and 39.25% of Capstone Copper, respectively, on a fully-diluted share basis.”
Darren Pylot, the president, chief executive and director of Capstone, who will become the executive chair of Capstone Copper, said the deal is in line with the company’s “strategic vision of growing a multi-asset and sustainable copper business in the Americas. The combi-nation of these two companies provides transformational near-term growth and further deepens our bench strength, particularly with re-spect to mine building, operational and leadership experience.”