In a significant step forward in empowering Indigenous communities in Canada, the first Indigenous-owned publicly traded company in the country that is focused on creating wealth for Indigenous peoples through existing royalty agreements, has added some major royalties to its portfolio, including Newmont鈥檚 Brucejack mine in British Columbia.
Nations Royalty Corp. (CVE: NRC) is 77% Indigenous owned and its unique approach has attracted the backing renowned mining entrepreneur Frank Guistra.
The company enables Indigenous groups to keep ownership of royalty assets while receiving early economic benefits from mining projects on their land.
Royalties are not negotiated directly with mining companies, but through partnership with First Nations and Indigenous groups that have existing royalties.聽
Nations Royalty chief investment officer Derrick Pattenden says the sharing of royalties between Indigenous groups has benefits beyond increased diversification.
Watch the full interview with MINING.com鈥檚 Devan Murugan: