|Last Updated:||March 27, 2014|
Franco-Nevada has a 4.1% equity interest in Falconbridge Dominicana, C. por A. (“Falcondo”) that is economically similar to most of our profit royalties except that payments are received through discretionary dividend distributions. Glencore Xstrata plc is the operator with an 85.26% ownership. Falcondo is a ferronickel surface mining operation with production capacity of 29,000 tonnes of contained nickel per annum located in the Dominican Republic with operations dating since 1971. Falcondo is typically a swing producer and announced in October 2013 that it will temporarily shut down due to continued depressed nickel prices. The operation was temporarily shutdown before in 2008 but restarted in March 2011 at 50% of capacity.