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Franco-Nevada

Falcondo (Ni)

Location: Dominican Republic
Operator: Americano Nickel Limited
Royalty: 4.1% Dividend

Franco-Nevada has a 4.1% equity interest in Falconbridge Dominicana, C. por A. (“Falcondo”) that is economically similar to a profit royalty except that payments are received through discretionary dividend distributions. 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 back to 1971. Falcondo is typically a swing producer and was put on care and maintenance when nickel prices depressed in October 2013. In 2015, Glencore sold its 85.26% ownership in the operation to Americano Nickel Limited, a private equity company which has subsequently restarted the mine.