Capstone Copper Corp.

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MATÉRIAUX, PRODUITS CHIMIQUES ET EXPLOITATION MINIÈRE
Capstone Copper Corp.
Copper producer with operations throughout the Americas
Acquired 100% of the Shares of
Compañía Minera Sierra Norte S.A.
Holding company of Sierra Norte in Atacama, Chile
Advised Alxar on the sale

IMAP Canada and IMAP Chile advised Alxar on the sale of Compañía Minera Sierra Norte to Capstone Copper

IMAP is pleased to announce that MPA Morrison Park Advisors – IMAP Canada and South Andes Capital – IMAP Chile acted as exclusive financial advisors to InversionesAlxar S.A. (“Alxar”) on the sale of 100% of Compañía Minera Sierra Norte S.A. (“CMSN”) to Capstone Copper Corp. (“Capstone”) with a market capitalization of US$5 billion.

Alxar, a wholly owned mining subsidiary of Empresas Copec S.A. (“COPEC”), one of Chile's largest industrial conglomerates with a market capitalization of US$9 billion, owns 40% of the Mina Justa copper operation in Ica, Peru, which generated ~US$800 million of EBITDA in 2023.

CMSN owns the Sierra Norte copper project, an IOCG (Iron Oxide Copper Gold) deposit spanning over 7,000 hectares in Chile's Atacama Region. It holds a historic resource of approximately 100Mt at 0.45% CuT with significant exploration potential.

Located about 20 kilometers northwest of Capstone’s Santo Domingo Project, Sierra Norte presents an opportunity to potentially serve as a future sulphide feed source for Santo Domingo, thereby extending its higher-grade copper sulphide life. The transaction was executed through a share purchase agreement, with Capstone issuing common shares as consideration to Alxar.

MPA Morrison Park Advisors, represented by Steve Altmann, Julian Storz, and Dalton Austin, alongside South Andes Capital, represented by Gabriel San Martin, Patricio Giglio, Esteban Olivos, and Francisco Castro, provided exclusive financial advisory services to Alxar throughout a competitive process, culminating in a successful closing.

This transaction highlights their ability to leverage global reach and create competitive tension, ultimately securing a synergistic buyer.

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