Norton Rose Fulbright advises on successful closing of Resource Capital Funds’ Cobre Las Cruces acquisition

Global law firm Norton Rose Fulbright has advised Resource Capital Funds on the acquisition of Cobre Las Cruces, owner of the Las Cruces copper mine in Spain, from First Quantum Minerals.

The deal was announced, subject to customary conditions and regulatory approvals in December 2025, and has now fully completed, following the fulfilment of these requirements.

Cobre Las Cruces is the owner and operator of the Las Cruces copper mine, a mining and metallurgical operation located in Andalusia in southern Spain. From 2009 until 2021, Cobre Las Cruces has operated a high-grade open-pit copper mine and a hydrometallurgical plant, producing London Metal Exchange Grade A copper cathodes as its final product.

This transaction facilitates the next-phase redevelopment on the existing mine site via a new underground mine feeding a polymetallic refinery to produce copper, zinc, lead and silver, via Global Panduro, a company controlled by funds managed by Resource Capital Funds.

The multidisciplinary Norton Rose Fulbright team was led by London-based corporate partner Jon Perry, and included senior associate Hannah Culshaw and associate Ellen Pen.

Banking partner Felicity Brown advised on financing aspects of the transaction, Global Head of Tax Dominic Stuttaford provided tax advice, and Head of Intellectual Property EMEA Mike Knapper, senior associate Alexander Redbourne and associate Nick Jens advised on the IP aspects and transitional arrangements.

Jon Perry commented:

"It was a pleasure to support Resource Capital Funds on this strategically important acquisition and we are pleased to see the completion of the transaction. The Las Cruces operation is a high-quality asset with significant long-term potential. The redevelopment of the site into a polymetallic operation highlights the growing importance of complex, future-facing mining projects, and we are proud to have supported the delivery of this outcome."