According to foreign media reports, Gold Royalty has agreed to acquire the existing royalty interests held by BlackRock World Mining Trust in the Pedra Branca mine for USD 70 million in cash. The copper-gold mine, located in Brazil’s Carajás region, is currently operated by BHP Group.
The company said in a statement on Monday that the acquisition further strengthens Gold Royalty’s already robust exposure to gold—both in terms of revenue and asset value—while also providing additional copper exposure at a time when long-term fundamentals remain strong.
The royalty package includes a 25% Net Smelter Return (NSR) royalty on gold and a 2% NSR royalty on copper and other products produced from the Pedra Branca East and Pedra Branca West deposits.
