Electric Royalties Acquires 0.75% GRR of Punitaqui Copper Mine

Electric Royalties Ltd. has announced a definitive agreement to acquire a 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile. This acquisition involves a cash transaction of C$3,500,000. The Punitaqui project, now owned by Battery Mineral Resources Corp., is set to leverage increased copper demand due to global energy transitions.

The mine, which resumed processing operations in May 2024, features four satellite copper resources. It has historical significance as it operated from 2010 until 2020. Electric Royalties aims to capitalize on rising copper prices and enhance operating margins through this acquisition.

The project's infrastructure supports sustainable production, with expected annual copper output ranging from 19 million to 23 million pounds. The acquisition awaits necessary regulatory approvals and is financed through an existing credit facility.