Triple Flag Precious Metals Corp. entered into a definitive agreement to acquire a 0.5% gross overriding revenue (GOR) royalty on the Tres Quebradas construction-stage lithium project. The acquisition from Lithium Royalty Corp. (LRC) is for a total cash consideration of US$28 million.
The Tres Quebradas project, located in Catamarca province, Argentina, is 100%-owned and operated by Zijin Mining Group Co., Ltd. This lithium brine asset is designed to produce battery-grade lithium carbonate and is characterized by a multi-decade reserve life, attractive cost profile, and significant resource upside.
While Triple Flag's core focus remains on precious metals, this acquisition represents a strategic, counter-cyclical opportunity to deploy capital. It adds near-term revenue exposure to a large, well-capitalized mining project, diversifying the company's portfolio and expanding its relationship with Zijin as an operating partner.
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