Teachers’ Boosts Exposure to Natural Resources

Partnership with Glencore will focus on base metals streams and royalties.

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Diamond Mining HistoryThe Ontario Teachers’ Pension Plan has boosted its investment in natural resources through a new partnership with Glencore Canada. BaseCore Metals is a joint venture limited partnership between Teachers’ and Glencore focused on base metals streams and royalties. The value of the initial portfolio is US$300 million and includes a selection of existing royalties on producing and development stage properties in North and South America, including the Antamina and Highland Valley mines as well as the Horne 5 and El Pilar projects.

Andrew Claerhout, senior managing director, infrastructure and natural resources at Ontario Teachers’ was quoted as saying, “This investment in BaseCore Metals and base metal streams and royalties reflects an important component of Ontario Teachers’ Natural Resources mandate to ensure attractive relative returns through exposure to commodities that are well-positioned to benefit  as the world transitions to a low-carbon economy. Working with strategic operators who have an active presence in key industries is a central tenet of Ontario Teachers’ investment strategy, and we are pleased to be forming this partnership with Glencore.”

 

About the Royalty Portfolio:

Royalty Asset Owners Main Commodity Asset Location
Antamina One and Two Thirds NPI Glencore, BHP, Teck Resources, Mitsubishi Copper / Zinc / Silver Peru
Highland Valley 0.5% NPI Teck Resources Copper Canada
Horne 5 2% NSR Falco Resources Gold Canada
El Pilar 1% NSR Southern Copper Copper Mexico
Point Leamington 1.5% NSR Callinex Mines Zinc Canada
Tulks South 2% NSR Canadian Zinc Zinc Canada
South Tally 2% NSR Canadian Zinc Zinc Canada
Long Lake 2% NSR Canadian Zinc Zinc Canada
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