Altius Reports Champion Iron’s Partnership with Nippon Steel and Sojitz Corporation on Kami

Rhea-AI Summary

Altius Minerals (TSX: ALS; OTCQX: ATUSF) announces that Champion Iron Ore has secured a binding agreement with Nippon Steel and Sojitz for a 49% stake in the Kamistiatusset Project (Kami). The partnership involves significant upfront payments and project development cost sharing, granting the new partners access to their proportionate shares of Kami's expected 9Mt/year high-purity iron ore concentrate production. Altius, which originated the Kami project through its Project Generation business, holds a 3% gross revenue royalty over the project.

Positive

• Holds 3% gross revenue royalty on Kami project
• Project secured major steel industry partners (Nippon Steel and Sojitz)
• Expected production capacity of 9Mt/year of high-purity iron ore concentrate

Negative

• None.

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)-- Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) is pleased to report on an announcement from Champion Iron Ore (“Champion”) that Nippon Steel Corporation (“Nippon”) and Sojitz Corporation (“Sojitz”) have entered into a binding agreement to acquire a 49% interest in the Kamistiatusset Project (“Kami”) from Champion. In exchange for significant up-front payments to Champion and pro-rata contributions towards project development costs, the incoming partners will become direct equity partners in the project and gain access to proportionate shares of Kami’s anticipated 9Mt/year high-purity (Direct Reduction quality) iron ore concentrate production. The full press release can be found here.

Altius originated the Kami project through its Project Generation business and holds a 3% gross revenue royalty over the project.

Brian Dalton, CEO of Altius, commented, “We offer our sincere congratulations to the team at Champion in attracting these high-quality steel industry partners and reaching this important de-risking milestone for the Kami project. We are also pleased to extend a warm welcome to Newfoundland and Labrador to Nippon and Sojitz with wishes for a long and successful partnership with Champion and all of the Kami project’s stakeholders.”

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,412,708 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Global Mining, and the S&P/TSX Canadian Dividend Aristocrats indices.

Forward-looking information

This news release contains forward-looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219133745/en/

For further information, please contact:

Flora Wood

Email: Fwood@altiusminerals.com

Tel: 1.877.576.2209

Direct: +1(416)346.9020

Ben Lewis

Email: Blewis@altiusminerals.com

Tel: 1.877.576.2209

Source: Altius Minerals Corporation

FAQ

What is Altius Minerals' (ATUSF) royalty percentage in the Kami iron ore project?

Altius Minerals holds a 3% gross revenue royalty over the Kami project.

What is the expected annual production capacity of the Kami project for ATUSF?

The Kami project is anticipated to produce 9Mt/year of high-purity (Direct Reduction quality) iron ore concentrate.

What percentage stake did Nippon Steel and Sojitz acquire in ATUSF's Kami project?

Nippon Steel and Sojitz have entered into a binding agreement to acquire a combined 49% interest in the Kami project.

How did Altius Minerals (ATUSF) initially acquire the Kami project?

Altius originated the Kami project through its Project Generation business.