The Nisga’a Nation in northwest BC is forming Canada’s largest Indigenous-majority owned public royalty company, demonstrating the increasing power of First Nations in resource development.
A new agreement announced Thursday gives the Nisga’a a majority stake in the newly formed Nations Royalty. Vega Mining will acquire from the Nisga’a the rights to five existing annual benefit payment entitlements with projects in the Golden Triangle, in exchange for common shares in Vega’s capital. The privately-owned Vega — about which little public information is available — will be renamed Nations Royalty Corp.
The Nisga’a’s current royalty portfolio includes Newmont’s (NYSE: NEM) Brucejack gold mine, Seabridge Gold’s (TSX: SEA; NYSE: SA) KSM copper-gold-silver-molybdenum project, Ascot Resources’ (TSX: AOT) Premier Gold project and Red Mountain deposit; and new Moly LLC’s Kitsault molybdenum project.
The company is speaking with other First Nations and Indigenous groups to encourage them to join Nations, for the aim of combining royalties from mining projects and welcoming external investors as shareholders.
For the rest of this article: https://www.mining.com/british-columbias-nisgaa-nation-plans-indigenous-majority-owned-royalty-company/