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Metals Royalty Company Closes Mesabi 1% Royalty Acquisition, Exercises Option for 2%

The Metals Royalty Company logoThe Metals Royalty Company
Sig3.18Sen+6.42Env+1.58Soc+0.82Gov+1.67

The Metals Royalty Company completed its acquisition of a 1.0% index-priced gross overriding production royalty with a revenue floor on the Mesabi Metallics iron ore project in Nashwauk, Minnesota, for $132.5 million, including $7.5 million in TMCR shares to vendors. TMCR also exercised an option to acquire an additional 1.0% royalty interest, potentially doubling royalty and annual cash flow if financed and closed by July 31, 2026.

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