Altus Strategies plc has completed the second and final closing to acquire 0.418% net smelter return royalty (NSR) interest on the producing Caserones copper mine in the Atacama region of northern Chile.
Altus is acquiring the NSR interest for US$34.1 million through a strategic 50:50 partnership with EMX Royalty Corporation.
Altus and EMX have created a special purpose vehicle incorporated in Chile that is owned jointly by Altus and EMX.
The SPV has now acquired an effective 0.836% NSR royalty for US$68.2 million.
Altus has principally financed the acquisition with a $29m acquisition loan facility agreement provided by La Mancha Fund SCSp.