The Metals Royalty Company

Royalties on critical minerals projects

Nasdaq: TMCRListed April 2026

The Metals Royalty Company Inc. buys royalties and structured interests in critical minerals projects rather than operating mines. It holds a 2.0% gross overriding royalty over TMC’s NORI area in the Clarion-Clipperton Zone and a 1.0% royalty over the Mesabi Metallics iron ore project in Minnesota. It began trading on the Nasdaq Capital Market on 8 April 2026.

News and articles

Overview

• A royalty holder takes a share of a project’s gross revenue. It carries no share of the capital cost, the operating cost or cost inflation, and it keeps the upside from higher metal prices, mine expansions and new discoveries.
• The company is anchored by the Hess family. Insiders and strategic holders own 66% of it, and the free float is <20% of issued shares.
• Its own presentation states it is not a reporting issuer in any province or territory of Canada, and that the presentation is not intended for Canadian residents.
• TMC the metals company holds ~25% of it, and retains a right to buy back up to 75% of the NORI royalty in two transactions between the second and tenth anniversaries of the 2023 agreement. If both are exercised, the NORI royalty falls to 0.5%.

Royalties

Presentations

Ownership

Company figures, as of March 2026.

Insider filings

No insider has bought or sold in the market since the April 2026 listing. Every Section 16 filing so far is a grant or an opening balance.

Reported position by insider

Directors, officers and 10% holders named in the company’s most recent proxy statement, on their latest reported Section 16 position. A Section 16 filer files nothing on leaving, so the raw record still carries people who departed years ago; those are excluded here.

SEC filing archive