Electric Royalties Ltd. reported that copper concentrate sales at the Punitaqui copper mine reached 5,581 dry metric tonnes in the first quarter of 2026, marking a 26% increase compared with 4,416 dry metric tonnes in the prior-year period.

The operating performance at Punitaqui translated into higher financial returns for the mine operator, Battery Mineral Resources Corp. Concentrate revenue rose 58% to C$21.3 million from C$13.5 million in the first quarter of 2025. Gross profit at the mine increased to C$10.3 million from C$3.4 million, while the gross margin expanded to 49% from 25%. Electric Royalties finalized its 0.75% Gross Revenue Royalty acquisition on the producing Chilean operation in December 2024 for a cash payment of C$3.05 million at closing.

Across its broader portfolio, Electric Royalties noted active development by project operators. At the Zonia Copper Oxide Project in Arizona, Edge Copper Corporation closed financings for approximately C$23.0 million in gross proceeds and reported broad oxide-copper intercepts from 27 drill holes, including mineralization beyond the 2024 preliminary economic assessment pit design. Edge Copper is targeting an updated mineral resource estimate for Zonia in the fourth quarter of 2026. In Ontario, Green Technology Metals Limited recapitalized with A$11.0 million and resumed definitive feasibility study work for the Seymour Lake Lithium Project, targeting study completion in the fourth quarter of 2026.

“The period since our March update has delivered tangible operating and development progress across the portfolio: Punitaqui reported higher concentrate sales and substantially improved margins, while Zonia attracted more than C$23 million of new financing and drilling continued to confirm broad oxide-copper mineralization, including beyond the PEA pit design; Middle Tennessee transitioned to Korea Zinc ownership; Sleitat attracted a proposed new acquirer following an on-site and historical-core review, and a filed plan scheduled new field work at Cancet. Battery Hill, Seymour, Kenbridge, Mont Sorcier, Millennium, Surge and Chubb also advanced through operator-funded technical, exploration or strategic work programs. This expanded portfolio-wide review reinforces the breadth of progress being funded and executed by project operators, preserving the core value of our royalty model.”

— Brendan Yurik, CEO, Electric Royalties Ltd.

The portfolio-wide review covers 43 royalty interests spanning lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc, and copper.

Read the full announcement: Electric Royalties Reports Operating Growth and Broad Advancement Across Critical Metals Royalty Portfolio