Trident Royalties plc

Name

Trident Royalties plc

Legal name

Trident Royalties plc

Website

https://tridentroyalties.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Trident Royalties plc is a London-listed mining royalty company that provides non-dilutive development capital to mining operators in exchange for royalty streams on production, with a thematic focus on battery metals and a flagship royalty interest in Lithium Americas' Thacker Pass lithium project.

Ownership category

akta.pro rank

Product category

Mining Royalty Financing

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

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

akta.pro secondary industry

Precious Metals Streaming, Royalties & Offtake (IMAKAEAF)

Keywords

• Mining royalty financing
• Battery metals royalties
• Precious metals royalties
• Base metals royalties
• Mining capital solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Royalty Payments: Trident Royalties earns revenue through royalty agreements with mining project operators. The company provides capital to mining projects and receives ongoing royalty payments based on production or sales volumes. Royalty income increases significantly as projects reach full production capacity.
2. Credit Facility: The company has secured a USD 40 million revolving credit facility from BMO Capital Markets and CIBC to support its capital deployment strategy and ongoing operations.

Go-to-market motion1 record

Core offering

Trident Royalties plc is a mining royalty company that provides development and production capital to mining projects in exchange for ongoing royalty payments tied to mine output or sales. The company invests across precious metals, base metals, battery metals (with a particular focus on lithium), and bulk materials, targeting producing and near-producing assets globally.

Differentiator

Problem solved

Functional benefit

Products and services

• Mining Royalty Financing Provision of non-dilutive development and production capital to mining operators and developers in exchange for royalty agreements on future production or revenue from mining assets. Serves mining companies across precious metals, base metals, battery metals, and bulk materials sectors globally.
• Lithium Americas Royalty (Thacker Pass Project) Royalty interest held over Lithium Americas' Thacker Pass lithium project in the U.S., entitling Trident to a share of future production or revenue from the asset. Serves as a flagship battery-metals royalty investment in the company's portfolio.

Quantifiable outcome

• Anticipated royalty payments to increase significantly at full production capacity from Thacker Pass project

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Lithium AmericascoreStrategic or Co-development PartnerTrident Royalties holds royalty interests in Lithium Americas' Thacker Pass lithium project, one of the largest lithium deposits in North America. The project received a $2.3 billion conditional loan from the US Department of Energy, with Trident anticipating royalty payments to increase significantly at full production capacity.

Scale indicators4 records

Direct peers

• Vox Royalty Corp. Junior royalty company that acquires royalties on gold, copper, and other critical-mineral projects globally. Vox is highly relevant as a small-cap diversified royalty peer of similar size and growth-stage orientation to Trident Royalties.
• Sandstorm Gold Ltd. Royalty and streaming company that provides financing to mining operators in exchange for a share of metals produced. Sandstorm is comparable to Trident as a smaller, growth-oriented streamer actively building a diversified royalty portfolio across gold, silver, base metals, and critical minerals.
• Franco-Nevada Corporation: The world's largest precious metals royalty and streaming company with a diversified portfolio across mining and energy. Franco-Nevada is the canonical template for the royalty/streaming business model that Trident Royalties operates, making it the most comparable direct peer despite Trident's smaller scale and battery-metals focus.
• Royal Gold, Inc. US-listed precious-metals royalty and streaming company with a portfolio of royalty, streaming, and similar interests across global mining operations. Royal Gold is among the most established pure-play royalty/streaming franchises and competes with Trident for the same upstream-financing opportunities.
• Osisko Gold Royalties Ltd: Intermediate-tier precious-metals royalty and streaming company with a portfolio of royalties, streams, and offtakes plus minority interests in mining companies. Osisko is a directly comparable mid-cap royalty/streaming operator for Trident in terms of business model and target mining counterparties.
• Triple Flag Precious Metals Corp. Precious-metals focused streaming and royalty company providing upfront financing to mining companies in exchange for metal deliveries. Triple Flag is a directly comparable streamer in scale and strategy, with growing diversification into critical/battery metals mirroring Trident's thematic positioning.
• Nomad Royalty Company Ltd. Precious metals royalty company with a portfolio of streams and royalties. Nomad is a comparable small/mid-cap streamer to Trident in scale, business model, and target project size, even though its commodity mix is weighted more toward precious metals.
• Metalla Royalty and Streaming Ltd. Small-cap royalty and streaming company focused on acquiring precious metals, base metals, and battery metals royalties and streams. Metalla is among the most direct small-cap comparables to Trident given its scale, listing, and emphasis on battery-metals royalties.
• Wheaton Precious Metals Corp. Major precious-metals streaming company that provides upfront financing to miners in exchange for delivery of a percentage of metals produced. Wheaton is a close comparable for Trident's model of paying up-front capital for ongoing commodity-linked cash flows, with growing exposure to base/battery metals.

Emerging players

• Elemental Royalties Corp. Royalty company focused on diversified cash-flow royalties across mining projects, including battery and critical minerals exposure. Elemental is an emerging comparable to Trident's diversified-thematic-royalty thesis, though still in earlier-stage ramp.

Market position

Customer concentration

• Xx.com/tridentplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors4 records

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

M&A

Investments

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

Frequently asked questions about Trident Royalties plc