09:55 AM EST, 12/19/2024 (MT Newswires) -- Triple Flag Precious Metals ( TFPM ) said Thursday it has agreed to buy an existing 0.5% gross overriding revenue royalty on the Tres Quebradas lithium project from Lithium Royalty for $28 million.

Located in Catamarca, Argentina, and owned by Zijin Mining, the project will begin generating royalty revenue in late 2025, the company said, adding that it expects steady production of about 1,000 gold equivalent ounces annually after a three-year ramp-up.

The transaction is expected to close in Q1 2025.

Shares of Triple Flag Precious Metals ( TFPM ) were up 0.5% in recent Thursday trading.

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