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Mesabi Metallics to Sell 50% Royalty Interest for $265 Million

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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…