Royal Gold Sparks Royalty M&A Momentum with US$3.5B Sandstorm Deal

YT HL Royal Gold Sparks Royalty M&A Momentum with US$3.5B Sandstorm Deal

The royalty and streaming sector surged into the spotlight this week as Royal Gold announced its $3.5 billion acquisition of Sandstorm Gold Royalties, a landmark deal signaling continued consolidation in the precious metals financing space Exploration Insights editor Joe Mazumdar told Kitco Mining's Digging Deep

With the purchase, Royal Gold solidifies its position as the third-largest player in the sector, trailing only Franco-Nevada and Wheaton Precious Metals.

“Sandstorm had reached a plateau,” Mazumder noted. “Their growth trajectory stalled, making them more of a target than an acquirer. Royal Gold’s low cost of capital enabled them to act decisively.”

Consolidation Strategy in a Bullish Market

The acquisition follows Triple Flag Precious Metals' recent purchase of Orogen Royalties’ 1% NSR on the Silicon-Merlin gold deposit in Nvada, USA, indicating a broader trend of M&A among royalty firms looking to secure future cash flow streams.

Mazumdar also spoke about the surge in investment in Gold ETFs, and the shock following US President Donald Trump announcing the possibility of 50% tariffs on the import of copper into the US.


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