Mesabi Metallics Monetizes Portion of Royalty Interest for $265 Million

The $2.5 billion world-scale, low-cost DR-grade iron ore mine positions U.S. steel industry to break free from foreign imports from Brazil and other countries NASHWAUK, Minn., June 2, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC(Mesabi Metallics), backed by Essar Group, has agreed to sell 50% of its royalty interest to The Metals Royalty Company Inc. (TMCR) for total consideration of $265 million, implying a valuation of more than $500 million for the royalty platform. The transaction with