The Metals Royalty Company Inc.
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About
The Metals Royalty Company Inc. (TMCR) is a metals royalty company based in Calgary, Canada, that acquires and manages royalties, streams, and related interests tied to metals and minerals in North America. Incorporated in 2022, the company is best known for holding financial interests in mining and mineral projects rather than operating mines itself. It was formerly known as Low Carbon Royalties Inc. and adopted its current name in September 2025.
The royalty and streaming model means the company invests in the future output or revenue of mineral projects in exchange for a share of production or proceeds. This approach gives it exposure to metals and minerals without the direct costs and operational responsibilities of running a mine. Its primary holding is a 2.0% interest in the NORI property, a polymetallic nodule project located to the southwest of San Diego, California.
Because the company focuses on acquiring and managing these interests, its results depend on the performance and progress of the underlying projects in which it holds royalties or streams. The NORI interest ties part of its prospects to seabed polymetallic nodules, a category of metal resource distinct from conventional land-based mining. As a relatively young company that recently rebranded, The Metals Royalty Company is positioned around building and overseeing a portfolio of mineral interests across North America. TMCR earns value from the royalties and streams it holds rather than from mining operations, which keeps its structure asset-light compared with operating producers and shifts its focus toward selecting and managing the right interests.