Rio Tinto sells Cortez Gold royalty for US$525M

On August 2, 2022, Rio Tinto plc’s wholly-owned subsidiary, Kennecott Royalty Company, completed the sale of a 1.2% gross production royalty on the Cortez gold mine and the Fourmile project in Nevada to RG Royalties LLC, a wholly-owned subsidiary of Royal Gold, Inc., for US$525 million in cash.

McCarthy Tétrault advised Rio Tinto plc and Kennecott Royalty Company with a team led by Roger Taplin that included Adam Wanke, Xinya Wang and Alexandra Comber.