STREAM AND ROYALTY INTERESTS, NET (Tables)

6 Months Ended

Jun. 30, 2025

STREAM AND ROYALTY INTERESTS, NET

Schedule of stream and royalty interests

The following tables summarize our stream and royalty interests, net as of June 30, 2025 and December 31, 2024.


As of June 30, 2025 (Amounts in thousands):						Cost						Accumulated Depletion						Net
Production stage stream interests:
Mount Milligan						$	790,635					$	(475,605)					$	315,030
Pueblo Viejo						610,404						(313,178)						297,226
Andacollo						388,182						(181,057)						207,125
Khoemacau						265,911						(65,554)						200,357
Rainy River						175,727						(90,333)						85,394
Other						241,830						(160,244)						81,586
Total production stage stream interests						2,472,689						(1,285,971)						1,186,718

Production stage royalty interests:
Cortez (Legacy Zone and CC Zone)						366,435						(91,014)						275,421
Voisey's Bay						205,724						(127,798)						77,926
Red Chris						116,187						(9,033)						107,154
Peñasquito						99,172						(68,578)						30,594
Other						515,221						(424,296)						90,925
Total production stage royalty interests						1,302,739						(720,719)						582,020
Total production stage stream and royalty interests						3,775,428						(2,006,690)						1,768,738

Development stage stream interests:
Ilovica						12,038						—						12,038
Development stage royalty interests:
Cactus						55,122						—						55,122
Back River						42,948						—						42,948
La Fortuna						35,140						—						35,140

Other						25,566						—						25,566
Total development stage stream and royalty interests						170,814						—						170,814

Exploration stage stream interests:
Warintza						95,203						—						95,203
Xavantina						64,813						—						64,813
Exploration stage royalty interests:
Cortez (Legacy Zone and CC Zone)						443,894						—						443,894
Great Bear						209,106						—						209,106
Pascua-Lama						177,690						—						177,690
Red Chris						48,895						—						48,895
Côté						29,610						—						29,610
Other						132,785						—						132,785

Total exploration stage stream and royalty interests						$	1,201,996					$	—					$	1,201,996
Total stream and royalty interests, net						$	5,148,238					$	(2,006,690)					$	3,141,548


As of December 31, 2024 (Amounts in thousands):						Cost						Accumulated Depletion												Net
Production stage stream interests:
Mount Milligan						$	790,635					$	(462,412)											$	328,223
Pueblo Viejo						610,404						(308,283)												302,121
Andacollo						388,182						(177,059)												211,123
Khoemacau						265,911						(58,043)												207,868
Rainy River						175,727						(86,307)												89,420
Other						241,830						(154,245)												87,585
Total production stage stream interests						2,472,689						(1,246,349)												1,226,340

Production stage royalty interests:
Cortez (Legacy Zone and CC Zone)						353,850						(81,845)												272,005
Voisey's Bay						205,724						(124,526)												81,198
Red Chris						116,187						(5,966)												110,221
Peñasquito						99,172						(65,372)												33,800
Other						519,491						(418,648)												100,843
Total production stage royalty interests						1,294,424						(696,357)												598,067
Total production stage stream and royalty interests						3,767,113						(1,942,706)												1,824,407

Development stage stream interests:
Ilovica						12,038						—												12,038
Development stage royalty interests:
Cactus						55,128						—												55,128
Back River						42,948						—												42,948
La Fortuna						35,140						—												35,140
Other						21,133						—												21,133
Total development stage stream and royalty interests						166,387						—												166,387

Exploration stage stream interests:
Xavantina						14,792						—												14,792
Exploration stage royalty interests:
Cortez (Legacy Zone and CC Zone)						456,479						—												456,479
Great Bear						209,106						—												209,106
Pascua-Lama						177,690						—												177,690
Red Chris						48,895						—												48,895
Côté						29,610						—												29,610
Other						115,438						—												115,438


Total exploration stage stream and royalty interests						$	1,052,010					$	—											$	1,052,010
Total stream and royalty interests, net						$	4,985,510					$	(1,942,706)											$	3,042,804