Orion Resource Partners sells 8.3% stake in Capstone Copper for A$592.8 million, retains 12% holding

Company

Orion Fund JV Limited

Company

Orion Mine Finance Fund II LP

Company

Orion Mine Finance (Master) Fund I-A LP

Company

Capstone Copper Corp.

Law Firm / Organization
Blake, Cassels & Graydon LLP

Orion Resource Partners LP, a global investment firm specializing in metals, sold an 8.3% stake in Capstone Copper Corp. for $529.6 million (AUD $592.8 million), reducing its ownership to 12%. This sale, part of Capstone's recent ASX listing, attracted major investors, aiding Capstone’s potential inclusion in the ASX300 and ASX200 indices. The stake reduction from 32% in 2022 to 12% diversified Capstone's shareholder base, bringing in global institutional investors. The partnership between Orion and Capstone, initiated in 2015 through Mantos Copper, has led to Capstone's emergence as a significant global copper producer with strong sustainability practices, including earning the Copper Mark for its Chilean operations. The transaction, marking one of the largest offerings by a Canadian company in the Australian market, highlights Orion's strategic investment and support in Capstone’s growth and operational enhancements, culminating in a merger in 2022 that valued Capstone at around $3.6 billion (AUD 4 billion). Orion's Managing Partner, Istvan Zollei, and Capstone’s CEO, John MacKenzie, both affirmed the transaction's role in showcasing Capstone's industry leadership and sustainable growth.

Public/Private Offering
Mining
$ 529,646,052
Closed
09 April 2024