The Metals Royalty Company closed on the acquisition of an additional 1.0% Index-Priced Gross Overriding Production Royalty in the Mesabi Metallics iron ore project, doubling its total interest to 2.0%. The transaction was funded by a US$165 million financing package consisting of US$140 million in convertible senior secured second lien notes and a US$25 million senior secured term loan facility from Macquarie Bank. Proceeds also included the full repayment of existing indebtedness. The company anticipates potential annual royalty revenue of approximately US$22 million, rising to US$26 million with project expansion. This strategic move supports its focus on U.S. critical mineral security through acquiring and managing metals and mineral royalties.
