New Delhi, June 2 (IANS) Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, has agreed to sell 50 per cent of its royalty interest to The Metals Royalty Company Inc. (TMCR) for a total consideration of $265 million, implying a valuation of more than $500 million for the royalty platform.The transaction with TMCR will be completed in two equal tranches of $132.5 million each: the first tranche closed on June 1, 2026, with the second tranche expected to close within 60 days. T…
Latest Mesabi Metallics News & Updates
Washington, March 19 (IANS) The United States has announced support of up to $10 billion for a major iron ore project that will deepen strategic ties with India, as part of a broader $30 billion Indo-Pacific financing push aimed at strengthening supply chains and industrial capacity. The funding, backed by the U.S. Export-Import Bank (EXIM), was announced during the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo.EXIM said its loans are unlocking nearly $30 billion in …