Royal Gold acquires US$165M Red Chris Mine royalty
Date Closed
August 11, 2021
Lead Office
Vancouver
Value
165.00 Million USD
On August 11, 2021, Glencore Canada Corporation, a wholly owned subsidiary of Glencore International AG (“Glencore”) sold a 1.0% Net Smelter Return Royalty (“Royalty”) covering a portion of the Red Chris Mine in British Columbia, Canada to International Royalty Corporation, a wholly owned subsidiary of Royal Gold, Inc. for $165 million in cash consideration.
Glencore is one of the world's largest natural resource companies producing and marketing a large range of metals and minerals.
Red Chris is owned and operated by a joint venture (the Red Chris JV), which is owned 70% by Newcrest Mining Ltd. and 30% by Imperial Metals Corporation in which Newcrest is the operator.
McCarthy Tétrault LLP acted for Glencore Canada Corporation with a team led by Roger Taplin that included Adam Taylor, Adam Wanke, Ainslie Hurd, Leisa Hickey , and RJ Reid (Business Law).
