The Metals Royalty Company Inc.

The Metals Royalty Company Inc. (TMCR) is a publicly traded Canadian royalty company focused on the acquisition and management of critical metals and mineral royalties, streams, and structured interests. Incorporated in British Columbia, Canada, in October 2022 as Low Carbon Royalties Inc., the company rebranded in September 2025 and completed its direct listing on the Nasdaq Capital Market under the ticker TMCR in April 2026.

Its royalty-based business model enables participation in long-term production revenues and commodity upside from strategically significant assets while minimizing exposure to operational, development, and environmental risks. The portfolio includes a 2.0% gross overriding royalty on the NORI polymetallic nodule project in the Clarion-Clipperton Zone of the Pacific Ocean, operated by The Metals Company Inc. and containing substantial nickel, copper, cobalt, and manganese resources. In 2026, TMCR acquired a 2.0% indexed gross production revenue royalty (with revenue floor) on direct-reduction grade iron ore pellets from the Mesabi Metallics project in Nashwauk, Minnesota, via two tranches totaling approximately $265 million, establishing near-term cash flow from U.S. domestic DR-grade pellet production for electric arc furnace steelmaking.

Headquartered in Calgary, Alberta, with a registered office in Vancouver, the company emphasizes support for U.S. critical mineral security, defense, energy systems, AI infrastructure, and re-industrialization. It maintains significant strategic ownership, including from the Hess family, and targets royalties across the full critical minerals value chain in North America and aligned Western supply chains.