ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) is pleased to report on an announcement from Champion Iron Ore (“Champion”) that Nippon Steel Corporation (“Nippon”) and Sojitz Corporation (“Sojitz”) have entered into a binding agreement to acquire a 49% interest in the Kamistiatusset Project (“Kami”) from Champion. In exchange for significant up-front payments to Champion and pro-rata contributions towards project development costs, the incoming partners will become direct equity partners in the project and gain access to proportionate shares of Kami’s anticipated 9Mt/year high-purity (Direct Reduction quality) iron ore concentrate production. The full press release can be found here.
Altius originated the Kami project through its Project Generation business and holds a 3% gross revenue royalty over the project.
Brian Dalton, CEO of Altius, commented, “We offer our sincere congratulations to the team at Champion in attracting these high-quality steel industry partners and reaching this important de-risking milestone for the Kami project. We are also pleased to extend a warm welcome to Newfoundland and Labrador to Nippon and Sojitz with wishes for a long and successful partnership with Champion and all of the Kami project’s stakeholders.”
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,412,708 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Global Mining, and the S&P/TSX Canadian Dividend Aristocrats indices.
Forward-looking information
This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulations.
