TSX:FNV 90.77 +0.06 +0.07%
Volume 446,787
April 20, 2018
NYSE:FNV 71.21 -0.38 -0.53%
Volume 566,791
April 20, 2018
Gold 1,335.88 -10.47 -0.78%
April 20, 2018
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Location: Australia
Operator: Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd.
Royalty: NSR: 2% (capped at A$15M)

Effective July 1, 2013, Franco-Nevada acquired a 2% NSR royalty on the Osborne Copper-Gold project which is now operated by Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd. (“Shanxi”), a private company incorporated in China. Royalty payments are capped at A$15 million with A$1.6 million in royalty payments paid prior to acquisition.

The Osborne Copper-Gold project is located 195 km southeast of Mount Isa in Queensland, Australia. Franco-Nevada’s royalty covers 413 km2 and includes all Mineral Resources at the Kulthor and Osborne deposits which are connected by a 2 km decline. Previous owners operated the Osborne mine and plant from 1995 to 2010. Inova Resources Limited (“Inova”) acquired the project in 2010 and restarted mining operations in 2012, ramping up to full capacity in 2013. Inova was acquired by Shanxi on November 15, 2013. The Osborne plant capacity is 1.4-1.6 Mt per annum. During 2016 underground mining at Osborne and Kulthor was completed and production shifted to the Osborne open pit operation. All production during 2016 was from Franco-Nevada’s royalty area. Shanxi is a private company and does not publicly report operating results.

2016 2015 2014
Total Revenue to FNV ($ million) $ 1.4 $ 2.6 $ 2.7