Triple Flag Precious Metals Corp. completed the acquisition of a 0.5% gross overriding revenue royalty on the Tres Quebradas lithium project. The transaction, originally announced on December 17, 2024, involved a total cash consideration of US$28 million paid to Lithium Royalty Corp.
The Tres Quebradas project is a construction-stage lithium brine asset located in Catamarca, Argentina, and is 100%-owned and operated by Zijin Mining Group Co., Ltd. This royalty is expected to provide near-term revenue from a long-life project.
The completion of this acquisition solidifies Triple Flag's strategic, albeit opportunistic, entry into the critical metals sector. It adds a new revenue stream and diversifies the company's asset base, enhancing its overall portfolio.
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