Project:

‍NuevaUnión Copper-Gold with Molybdenum credits

Status:

‍Development

Location:

Huasco Region, North-Central Chile

Ownership:

50:50 JV between Teck Resources Limited (“Teck”) and Newmont Corporation

Royalty:

2.0% NSR covering all copper royalty revenue from the Cantarito block within the La Fortuna deposit. The royalty is owned via a joint venture with Metalla Royalty & Streaming, who will receive all the gold royalty revenue from the Cantarito block. BatteryOne acquired the royalty from a private seller in February 2020, with the expectation that copper will account for approximately 75% of the total Cantarito NSR revenue. The Cantarito block is one of the main historically explored areas of the La Fortuna deposit, and accounts for a meaningful proportion of total La Fortuna resource and mine plan tonnage based on prior technical reports.

As of December 31, 2019, Teck reported the following reserves and resources at La Fortuna: