New mining powerhouse: Altius Minerals acquires Lithium Royalty assets for $520M

Altius Minerals Corp. has signed a deal to buy Lithium Royalty Corp. in a stock-and-cash deal valued at about $520 million. THE CANADIAN PRESS/AP-John Locher

TORONTO — Altius Minerals Corp. has signed a deal to buy Lithium Royalty Corp. in a stock-and-cash deal valued at about $520 million.

Altius CEO Brian Dalton says the deal creates strong value for shareholders by adding a significant pipeline of operating, development and evaluation stage assets.

Under the agreement, Altius has agreed to pay $9.50 in cash or 0.24 of an Altius share for each Lithium Royalty share. The total amount of cash available under the offer is limited to one-third of the offer, while the number of shares available is capped at 11.5 million.

Lithium Royalty CEO Ernie Ortiz is expected to join Altius’s corporate development team following the closing of the transaction.

Shares in Lithium Royalty were up $1.97 at $9.30 in trading on the Toronto Stock Exchange after the deal was announced.

Altius already holds about an eight per cent stake in Lithium Royalty. The deal is subject to shareholder, regulatory and court approvals as well as customary closing conditions.

This report by The Canadian Press was first published Dec. 22, 2025.