Wedoany.com Report-Dec.9, Gold Royalty Corp has agreed to acquire an existing royalty on the producing Pedra Branca copper-gold mine in Pará state, Brazil, from BlackRock World Mining Trust for US$70 million (C$96.65 million) in cash.

The terms of the royalty include a 25% NSR royalty on gold and a 2% NSR on copper produced from Pedra Branca.

The Pedra Branca mine, located in Água Azul do Norte approximately 160 km from Marabá and 900 km from Belém, is currently owned and operated by a subsidiary of BHP Group. The asset comprises the Pedra Branca East and West deposits and has been in production since 2020 at an annual mining rate of around 800,000 tonnes.

The royalty consists of a 25% net smelter return (NSR) on gold production and a 2% NSR on copper, with no reduction clauses or buy-down provisions, providing full long-term exposure to both metals.

For the 12 months ended 30 June 2025, the royalty generated approximately US$7.9 million in payments, equivalent to roughly 2,800 gold-equivalent ounces at an average realised price of US$2,811 per ounce. The acquisition is expected to deliver immediate and substantial cash flow to Gold Royalty.

Chairman and CEO David Garofalo stated: "We are pleased to announce another significant addition to our portfolio. The acquisition of the Pedra Branca royalty represents an immediate and material addition to our cash flows. On completion, our portfolio of high-quality assets will include eight cash flowing assets and a deep pipeline of over 250 royalty and streaming interests."

The transaction remains subject to customary closing conditions and is expected to complete following the previously announced sale of the mine by BHP to CoreX Holding.

Since acquiring the operation through the 2023 takeover of OZ Minerals, BHP has extended Pedra Branca’s mine life and increased reported mineral resources and ore reserves, as detailed in its annual report for the year ended 30 June 2025.

With this acquisition, Gold Royalty strengthens its position as a leading precious-metals-focused royalty company, adding a high-margin, cash-generating interest in a modern underground mine located in a premier South American mining jurisdiction.