Altius

What Altius does

Altius Minerals Corporation is a publicly traded diversified mineral and renewable royalty company headquartered in St. John's, Newfoundland, founded in 1997 and listed on the TSX (ALS) and OTCQX (ATUSF) with a market capitalization of approximately C$3.53 billion as of June 29, 2026. The company earns recurring revenue by acquiring and creating royalty and streaming interests on the output of third-party mining and energy assets, holding 13 producing royalties across potash, copper, nickel-cobalt, iron ore, and lithium, plus a 57% interest in Altius Renewable Royalties with 33 renewable energy royalties. Core royalty assets include a 3.7% copper stream on Lundin Mining's Chapada mine, revenue royalties on six Nutrien potash mines and the Mosaic Esterhazy mine, a 0.3% NSR on Vale's Voisey's Bay nickel-copper-cobalt operation, and a 7% gross overriding royalty on Iron Ore Company of Canada, supported by ownership of Labrador Iron Ore Royalty Corporation.

The business operates three interconnected lines: (1) a Mineral Royalties book built largely through Project Generation, a self-sustaining unit that prospects, stakes, and advances mineral lands before optioning or selling projects to junior miners in exchange for equity and future royalties, with a junior equities portfolio valued at approximately $70 million as of Q1 2026; (2) Altius Renewable Royalties and its 50/50 Great Bay Royalties joint venture with Apollo Global Management, which closed a US$73 million royalty investment in the 311 MW Coles Wind project in Illinois in June 2026; and (3) a Lithium Royalty portfolio added through the C$520 million acquisition of Lithium Royalty Corp. completed March 6, 2026, which contributed C$5.4 million of revenue in Q1 2026 and is targeted to generate C$40-60 million of annual lithium royalty income by end of decade. Customers are mining and energy operators receiving non-dilutive capital, while investors receive inflation-protected, commodity-linked cash flow with mine lives of 19 to 163 years, supporting a 2025 attributable royalty revenue base of C$69.9 million and an annual dividend of $0.40 per share paid quarterly.

Name

Altius

Legal name

Altius Minerals Corporation

Website

https://altiusminerals.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Altius Minerals Corporation is a publicly traded diversified mineral and renewable royalty company that acquires royalty and streaming interests on third-party mining and energy operators, generating recurring revenue from 13 producing mines (potash, copper, nickel-cobalt, iron ore, lithium) and 33 renewable energy royalties, with mining operators and clean-energy developers as its primary customers.

Ownership category

akta.pro rank

Product category

Mining Royalties

NAICS

Support Activities for Metal Mining (213114)

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

Real Assets — Natural Resources & Minerals (Mining, Royalties/Streaming) (FSAHAIAK)

akta.pro secondary industries

Iron Ore Royalties, Streaming & Mineral Rights (IMAKAAAH), Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Natural Resources — Energy & Mineral Resources (FSAAAKAJ)

Keywords

• Mining royalties
• Mineral exploration
• Renewable royalties
• Project generation
• Royalty financing

Headquarters

HQ city

St. John's

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Mineral Royalties: Diversified portfolio of royalties on producing mines including potash (6 mines in Canada), nickel-copper-cobalt (Voisey's Bay), copper (Chapada in Brazil), and iron ore (IOC). Revenue from royalty rates applied to production or revenue shares.
2. Lithium Royalties: Following March 2026 acquisition of Lithium Royalty Corp, Altius holds royalties on multiple lithium projects including Grota do Cirilo, Tres Quebradas, Goulamina, Mariana, and others. Q1 2026 contributed $5.4 million in revenue from four operating lithium royalties.
3. Renewable Energy Royalties: Through 57% ownership of Altius Renewable Royalties (ARR), company holds interests in 33 renewable energy royalties. Joint venture Great Bay Royalties with Apollo Global Management funds royalty investments in wind and solar projects.
4. Project Generation: Self-sustaining business unit that converts mineral lands to equities and future royalties. Generates equity positions and royalty interests through exploration and joint venture arrangements with junior resource companies.
5. Equity Dividend Income: Regular dividend income from equity ownership in Labrador Iron Ore Royalty Corporation, treated as iron ore royalty revenue as a pass-through vehicle. Altius holds approximately 8.05% stake.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Altius Minerals provides upfront financing to mining operators and renewable energy developers in exchange for royalty and streaming interests on production. The company holds royalty interests in 13 producing mines across potash, copper, nickel-cobalt, iron ore, and lithium, plus 33 renewable energy royalties through its 57%-owned subsidiary Altius Renewable Royalties. It also operates a Project Generation business unit that creates new royalty and equity positions through exploration and joint venture arrangements with junior resource companies.

Product overview

Altius Minerals Corporation is a premier diversified mining royalty company operating as a single unified business model focused on acquiring, creating, and managing royalty assets across multiple commodities. The company generates recurring revenue through three interconnected business lines: (1) Mineral Royalties - interests in 13 producing mines spanning potash, copper, nickel, cobalt, iron ore, and lithium across Canada and Brazil; (2) Project Generation - a self-sustaining exploration unit that creates and sells mineral projects in exchange for equity and future royalties, currently holding a $70 million junior equities portfolio; and (3) Altius Renewable Royalties (ARR) - a 57%-owned subsidiary with 33 renewable energy royalties through joint venture Great Bay Royalties. The 2026 acquisition of Lithium Royalty Corp. significantly expanded the lithium royalty portfolio. The company targets long-life, high-margin operations with mine lives ranging from 19 to 163 years, delivering compound annual revenue growth of 36% since 2013.

Differentiator

Problem solved

Functional benefit

Brands

• Altius Renewable Royalties (ARR): 57% owned subsidiary focused on renewable energy royalties including wind and solar projects
• Project Generation

Products and services

• Mineral Royalties Portfolio Royalty interests in 13 producing assets including potash mines (Rocanville, Allan, Cory, Patience Lake, Vanscoy, Esterhazy), Voisey's Bay nickel-copper-cobalt mine, Chapada copper stream, and IOC iron ore royalty. Generates recurring revenue from high-margin, long-life mining operations with mine lives of 19 to 163 years.
• Project Generation A self-sustaining business unit that creates mineral projects for sale to developers in exchange for equity positions and royalty interests. The portfolio includes exploration-stage projects advanced through joint venture partnerships, with current portfolio value of approximately $70 million as of March 31, 2026.
• Altius Renewable Royalties (ARR) 57% owned subsidiary focused on renewable energy royalties, holding interests in 33 renewable energy royalties or royalty entitlements. Includes joint venture Great Bay Royalties with Apollo Global Management for energy royalty investments in wind and solar projects.
• Lithium Royalty Portfolio Diversified portfolio of lithium royalties acquired through Lithium Royalty Corp., including Grota do Cirilo (Sigma Lithium), Tres Quebradas (Zijin), Goulamina (Ganfeng), Mariana Lithium, Finniss (Core Lithium), Neves (Atlas Lithium), Mt. Cattlin (Rio Tinto), Moblan, and Horse Creek projects.
• Chapada Copper Stream 3.7% of payable copper stream on Lundin Mining's Chapada Mine in Brazil, generating approximately C$21.5 million in 2025 revenues.
• Potash Royalties Revenue-based royalties on six Nutrien potash mines (Rocanville, Allan, Cory, Patience Lake, Vanscoy) and Mosaic's Esterhazy mine in Canada, representing significant recurring revenue from agricultural nutrient commodities.
• Voisey's Bay Royalty 0.3% NSR on all metals produced from Vale's Voisey's Bay nickel-copper-cobalt mine in Labrador, Canada. Generated C$1.7 million in 2025 revenue.
• IOC Royalty 7% gross overriding royalty on Iron Ore Company of Canada's operations, with dividend income passed through from Altius's equity ownership in Labrador Iron Ore Royalty Corporation. Generated C$6.3 million in 2025 revenue.

Quantifiable outcome

• Q1 2026 revenue increased 79% year-over-year to $26.8 million
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• Great Bay Royalties (Apollo Global Management Joint Venture)coreStrategic or Co-development Partner · 15 June 2026Altius Renewable Royalties, through its 50/50 joint venture Great Bay Royalties with funds managed by Apollo Global Management, acquires royalty investments in renewable energy projects. In June 2026, GBR closed a US$73 million royalty investment in the 311 MW Coles Wind project in Illinois. Altius provided approximately US$12.4 million to fund its share of the capital contribution.
• TNR Gold Corp.coreStrategic or Co-development Partner · 6 April 2026Altius completed a C$4.2 million strategic investment in TNR Gold, acquiring approximately 23.5 million shares representing 9.9% of TNR. TNR granted Altius Royalty Corporation rights of first offer on NSR royalties covering the Mariana Lithium Project in Argentina and McEwan Copper's Los Azules project. TNR focuses on critical materials including copper and lithium assets.
• Orogen Royalties Inc.coreStrategic or Co-development Partner · 2 March 202650/50 alliance between Altius and Orogen Royalties for joint project generation activities. In 2026, the companies signed a binding agreement to option the Table Mountain gold project in Nevada to Toogood Gold. Altius Resources holds warrants in Orogen from previous investments.
• Lithium Royalty Corp. (Acquired)coreStrategic or Co-development Partner · 22 December 2025Altius acquired Lithium Royalty Corp. for approximately C$520 million in a deal completed March 6, 2026. The acquisition provided Altius access to a diversified portfolio of lithium royalties and related assets, adding four operating lithium royalties that generated $5.4 million in Q1 2026 revenue.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Franco-Nevada Corporation: The world's largest precious metals and diversified royalty/streaming company. Direct peer in mining royalties with overlapping exposure to gold, copper, and other commodities; notably Franco-Nevada purchased 2/3 of Altius's Silicon Gold NSR in 2025, illustrating direct competitive overlap.
• Metalla Royalty & Streaming Ltd. Royalty and streaming company focused on acquiring and creating royalties on precious and base metals assets. Smaller-scale but directly comparable royalty acquisition and creation model.
• Royal Gold, Inc. Major precious metals royalty and streaming company with a diversified portfolio of producing and development-stage assets. Comparable royalty-driven business model and exposure to long-life mining operations.
• Osisko Gold Royalties Ltd: Canadian precious metals royalty company with a portfolio of over 150 royalties, streams, and offtakes. Direct competitor; Altius director Andre Gaumond was formerly SVP at Osisko, evidencing industry overlap.
• Sandstorm Gold Royalties: Royalty company that provides upfront financing to mining operators in exchange for royalty or streaming interests. Comparable business model with diversified commodity exposure.
• Triple Flag Precious Metals Corp. Precious metals-focused streaming and royalty company with a growth-oriented portfolio. Competes with Altius in providing non-dilutive financing to miners in exchange for royalty/streaming interests.
• Labrador Iron Ore Royalty Corporation: Iron ore royalty company in which Altius holds approximately 8.05% equity. Pass-through vehicle for IOC royalties; an established single-commodity royalty peer related to Altius.
• Wheaton Precious Metals Corp. Streaming company focused primarily on precious metals with diversified streaming agreements. Operates a similar upfront-capital-for-streaming-interest model to Altius, particularly in copper and silver streams.

Emerging players

• Gold Royalty Corp. Newer royalty company built by the former management of GoldMining Inc., focused on acquiring gold and precious metals royalties. Emerging competitor in the junior royalty segment.
• Uranium Royalty Corp. Royalty company focused exclusively on uranium projects. Comparable royalty acquisition model but in a different commodity, reflecting Altius's diversification strategy into adjacent royalty verticals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AltiusMinerals
• Facebookfacebook.com/AltiusMinerals
• LinkedInlinkedin.com/company/8418001

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altius