Scully Mine
Project information
As at 31 December 2024
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
Ni 43 101
Report standard:
Ni 43 101
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Tacora Resources Inc.
Operator name:
Tacora Resources Inc.
Country:
Canada
Country:
Canada
Region:
Newfoundland and Labrador
Region:
Newfoundland and Labrador
Geological province:
Labrador Trough
Geological province:
Labrador Trough
Interest conditions:
7.0% net revenues royalty on iron ore shipped from the mine and 4.2% on iron ore shipped from tailings and other disposed materials; Minimum payments of $3.25 million per year, payable quarterly, which may be credited towards earned royalties relating to the same calendar year; Royalty is payable pursuant to a mining sub-lease related to the lands on which the mine is situated, which commenced in 1956 and expires in 2055.
Description
As at 31 December 2024
Scully Royalty Ltd. 7.0% net revenues royalty over the Scully iron ore mine in Newfoundland and Labrador operated by Tacora Resources Inc. Royalty covers Mining Lease Lot No. 1, which is 14.43 square km in area. Expected to deliver up to 6.0 million tonnes per annum of high-grade iron ore concentrate based on Tacora's multi-year capital investment and ramp-up plan.
Royalty interests
Multiple effective dates
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