We hold a net revenues royalty interest on iron ore shipped from the Scully Iron Ore mine. In addition, we have multiple merchant banking projects - including our regulated bank subsidiary - around the world.
Our steadfast commitment to iron ore in Newfoundland and Labrador, Canada.
The local government in Newfoundland and Labrador, Canada, leases out the land for the Scully Iron Ore mine for a 100-year term, laying the foundation for a valuable and enduring asset.
A new chapter began for Scully Royalty as the leaseholder of the Scully Iron Ore mine. The mine's new operator re-commenced mining operations and celebrated its first seaborne vessel shipment of iron ore concentrate, marking a milestone of growth and value creation for Scully Royalty.
Scully Royalty continues to generate stable revenue streams through the Scully Iron Ore mine. The mine boasts a capacity of six million tonnes per annum and produces a premium iron ore product with Fe content exceeding 65%.
Looking ahead, Scully Royalty remains committed to enhancing shareholder value and maximizing earnings through its iron ore royalty interest until the lease agreement expires in 2055.