Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025


	For the three months ended June 30,
	2025
	Precious metals			Other mining	Energy		Total
Revenue
Revenue from royalty, streams and working interests	$	304.0	$	10.2	$	52.5	$	366.7
Interest revenue		2.7		—		—		2.7
Total Revenue	$	306.7	$	10.2	$	52.5	$	369.4

Expenses
Costs of sales	$	31.1	$	—	$	2.4	$	33.5
Depletion and depreciation		44.8		2.8		16.2		63.8
Segment gross profit	$	230.8	$	7.4	$	33.9	$	272.1


	For the three months ended June 30,
	2024
	Precious metals			Other mining	Energy		Total
Revenue
Revenue from royalty, streams and working interests	$	193.0	$	13.7	$	50.9	$	257.6
Interest revenue		2.2		—		—		2.2
Other interest income		0.3		—		—		0.3
Total Revenue	$	195.5	$	13.7	$	50.9	$	260.1

Expenses
Costs of sales	$	26.6	$	—	$	2.5	$	29.1
Depletion and depreciation		35.3		2.9		13.7		51.9
Segment gross profit	$	133.6	$	10.8	$	34.7	$	179.1


	For the six months ended June 30,
	2025
	Precious metals			Other mining	Energy		Total
Revenue
Revenue from royalty, streams and working interests	$	594.7	$	27.0	$	110.5	$	732.2
Interest revenue		5.6		—		—		5.6
Total Revenue	$	600.3	$	27.0	$	110.5	$	737.8

Expenses
Costs of sales	$	65.1	$	—	$	6.9	$	72.0
Depletion and depreciation		91.9		7.7		32.5		132.1
Segment gross profit	$	443.3	$	19.3	$	71.1	$	533.7


	For the six months ended June 30,
	2024
	Precious metals			Other mining	Energy		Total
Revenue
Revenue from royalty, streams and working interests	$	387.0	$	31.5	$	94.7	$	513.2
Interest revenue		3.1		—		—		3.1
Other interest income		0.6		—		—		0.6
Total Revenue	$	390.7	$	31.5	$	94.7	$	516.9

Expenses
Costs of sales	$	57.2	$	—	$	5.5	$	62.7
Depletion and depreciation		73.0		6.5		30.4		109.9
Segment gross profit	$	260.5	$	25.0	$	58.8	$	344.3


		For the three months ended				For the six months ended
		June 30,				June 30,
		2025		2024		2025		2024
Total segment gross profit	$	272.1	$	179.1	$	533.7	$	344.3

Other operating expenses (income)
General and administrative expenses	$	5.7	$	7.6	$	14.4	$	11.8
Share-based compensation expense		2.8		1.8		8.5		4.6
Cobre Panama arbitration expense⁽¹⁾		3.9		0.8		4.6		2.3
Impairment reversal(¹⁾		(4.1)		—		(4.1)		—
Gain on disposal of royalty interests⁽¹⁾		—		—		—		(0.3)
Gain on sale of gold and silver bullion⁽¹⁾		(42.2)		(1.1)		(49.3)		(2.5)
Depreciation		0.2		1.0		0.3		1.2
Foreign exchange (gain) loss and other (income) expenses		(4.1)		9.8		(9.8)		11.4
Income before finance items and income taxes	$	309.9	$	159.2	$	569.1	$	315.8

Finance items
Finance income	$	6.6	$	16.2	$	17.7	$	32.2
Finance expenses		(0.8)		(0.6)		(1.5)		(1.2)
Net income before income taxes	$	315.7	$	174.8	$	585.3	$	346.8

Amounts were attributed to the precious metals reportable segment for the three and six months ended June 30, 2025 and 2024.