Arizona Tribune - The Metals Royalty Company Celebrates U.S. EXIM Bank Chairman's Visit to the Mesabi Iron Ore Mine and Provides Commissioning Update

According to EXIM, the visit marked a milestone for the first new iron ore mine and pellet plant to begin operations in the United States in 50 years. In March 2026, EXIM announced its support of up to $10 billion in potential financing for the Mesabi project, underscoring its strategic importance to domestic supply chains and to American steel's ability to compete globally. The direct-reduction-grade pellets Mesabi will produce are the premium feedstock for the electric arc furnaces at the center of low-carbon U.S. steelmaking. TMCR believes that domestic production of these pellets will help reduce America's reliance on foreign supply and strengthen a domestic industry that has long ceded ground to Chinese production.

Based on Mesabi Metallics' most recent project reporting, overall project completion stood at 99.25% as of August 31, 2026. Hot commissioning trials have been completed across a range of the plant's core systems, including the primary and secondary crusher circuits, conveyor and tripper-car materials-handling systems, and associated dedusting infrastructure. Approximately 1.3 million tonnes of ore have been blasted and stockpiled ahead of startup.

Final commissioning activity is concentrated in the plant's downstream processing areas - the beneficiation plant, balling building, induration building and pellet plant - where equipment installation and hot commissioning are in their closing stages. Mesabi Metallics has reported that it remains on track to achieve first production in the fourth quarter of 2026. The project information set out above has been provided by Mesabi Metallics and has not been independently verified by TMCR. TMCR does not operate or control the Mesabi project and has no control over the timing of its commissioning or first production.

"To see the EXIM Chairman on site as Mesabi moves into startup underscores exactly why we built our royalty around this asset," said Brian Paes-Braga, Executive Co-Chairman and Chief Executive Officer of TMCR. "Mesabi is a nationally strategic source of domestic iron ore, and our 2.0% royalty gives TMCR long-life exposure to its production as it comes online. EXIM's announced support of up to $10 billion in potential financing reflects the importance of rebuilding America's mineral supply chains and its green steel industry - exactly what this platform was built to finance."

As previously announced, TMCR recently closed the acquisition of an additional 1.0% royalty interest in the Mesabi project, doubling its total royalty interest to 2.0%.

About The Metals Royalty Company Inc.

The Metals Royalty Company Inc. (NASDAQ:TMCR) is a purpose-built financing platform dedicated to advancing U.S. critical mineral security and re-industrialization. The Company acquires and manages metals and mineral royalties, streams, and similar structured interests across the full value chain - supporting American defense, AI infrastructure, energy systems, and industrial capacity. TMCR's royalty-based business model is designed to enable participation in the long-term cash flows and commodity upside of strategically significant assets, with reduced exposure to the operational and development risks typically associated with resource production. For more information, please visit www.sec.gov and the Company's website www.themetalsroyaltyco.com.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable securities laws, which reflect the expectations of the Company's management regarding its future growth, future business plans and opportunities, expected activities and other statements about future events, results or performance. These forward-looking statements include, among other things, statements relating to the Mesabi project, the expected timing of commissioning and first production at the Mesabi project, the availability and terms of any EXIM financing for the Mesabi project, the revenue generating potential with respect to TMCR's industry and business plans, the potential impact of government policy, market opportunity, the Company's ability to execute on its business plan and to acquire and manage additional royalty interests and other statements that are statements other than historical facts. When the Company and its management use words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not a guarantee of future performance and are based on a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances as of the date of this press release. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties and risks related to: the timing and amount of any royalty revenue under the Mesabi royalty; the economic potential and timing of commissioning and production at the Mesabi project; whether, when and on what terms any EXIM financing is made available to the Mesabi project; TMCR's limited operating history and the risks associated with new business development; TMCR's potential inability to acquire additional royalty, stream or similar interests, or to achieve profitability and positive cash flow; dependence on the performance of, and information provided by, the operators of the projects underlying TMCR's royalty interests, including Mesabi Metallics, which information the Company has not independently verified; market conditions; competitive dynamics; regulatory changes; and other factors discussed in the "Risk Factors" section of the Company's Form 20-F and subsequent reports filed with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Forward-looking statements speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact

Lucas A. Zimmerman
MZ Group - MZ North America
(949) 259-4987
[email protected]
www.mzgroup.us

SOURCE: The Metals Royalty Company

View the original press release on ACCESS Newswire

A.Williams--AT