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Mexican courts confirm Capstone owes $50M+ in unpaid royalties on Cozamin mine since 2019.

Market News
22 May 2026
Royalties Inc.
View Source
Bearish
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Mexican courts ruled that Capstone Copper Corp. must pay over $50 million in unpaid royalties to Minera Portree de Zacatecas (MPZ) for its 2% Net Smelter Return royalty on five mining concessions at the Cozamin copper-silver mine, dating back to 2019. The royalty was legally confirmed and registered in 2002 and remains the property of MPZ despite Capstone's acquisition of the concessions. Capstone has been producing copper and silver at Cozamin since 2010 and recently engaged Scotiabank to sell the mine, valued at around $400 million. The court rulings bind Capstone and any future buyers to honor the royalty payments, which are estimated to generate $9 million annually at current metal prices, with total claims including arrears and interest potentially exceeding $77 million. The final federal court decision on Capstone's appeal is pending, with enforcement and potential damages expected to follow.

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