Voisey's Bay


Labrador, Canada




10% of a 3% NSR (effective 0.3%)


Nickel, Copper, Cobalt

Asset Profile  
2021 Royalty Revenue C$2.3 million
Annual Production Capacity 2.19 million tonnes ore
Estimated Mine Life 14 years

Altius acquired the royalty interest in mid-2003 using a conservative long-term nickel price of US$3.25 per pound for a total purchase cost of $13.6 million and by mid 2010 Altius had recognized cumulative revenue in excess of $15 million, achieving payback. The Voisey's Bay open pit mine began in 2005, and is currently mining from the open pit while completing construction of a new underground which is expected to be completed in 2021 and which will expand the mine life to 2032 - 2034, taking into account the reduced production during the final open pit years and the COVID-19 shutdown that occurred for roughly 2 quarters during 2020.

Altius has a 10% joint venture interest in the Labrador Nickel Royalty Limited Partnership ("LNRLP"). The LNRLP holds a 3% net smelter return royalty over the Voisey's Bay nickel-copper-cobalt project in Labrador that is owned and operated by Vale INCO NL.