Norton Rose Fulbright advises Resource Capital Funds on acquisition of Las Cruces copper mine

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 is subject to customary conditions and regulatory approvals and is expected to close during the first half of 2026.

The Las Cruces site is located approximately 20 kilometres northwest of Seville. In February 2024, First Quantum published an updated NI 43-101 Technical Report setting out plans for a next-phase redevelopment on the existing mine site via a new underground mine feeding a polymetallic refinery to produce copper, zinc, lead and silver. This transaction paves the way for Global Panduro, a company controlled by funds managed by Resource Capital Funds, to develop the next phase of the Las Cruces project.

The multidisciplinary Norton Rose Fulbright team was led by London-based corporate partner Jon Perry, and included senior associate Hannah Culshaw and associates Ellen Pen and Katherine Qiu. Finance support was provided by banking partner Felicity Brown and senior associate Chenez Dyer Bray, tax support was provided by Global Head of Tax Dominic Stuttaford. Head of Intellectual Property EMEA Mike Knapper, senior associate Alexander Redbourne and associate Nick Jens supported on the transitional arrangements.

Jon Perry commented: "This transaction highlights our market-leading capability advising financial sponsors and strategic investors on M&A and project development across the global mining and metals sector."