On February 18, 2026, OR Royalties Inc. (TSX; NYSE: OR) entered into a definitive agreement with affiliates of Gold Fields Limited to acquire a portfolio of precious metals royalties, together with certain receivables, over projects located in Peru, Australia, Ghana, and Canada, for total consideration of approximately US$167 million.
The royalty portfolio, acquired for US$115 million, is anchored by a 1.5% net smelter return (NSR) royalty on Compañía de Minas Buenaventura S.A.A.’s producing San Gabriel gold and silver mine in the Region of Moquegua, Peru. As part of the same transaction, OR Royalties paid Gold Fields a further US$52 million in exchange for deferred payment obligations totalling US$60 million payable by Galiano Gold Inc. in respect of its Asanko Gold Mine in Ghana.
The acquisition adds immediate gold-equivalent ounces and cash flow to OR Royalties’ portfolio, with the San Gabriel mine ranking as Buenaventura’s fourth producing operation in Peru, a leading global gold-mining jurisdiction. The transaction reflects OR Royalties’ continued strategy of building a diversified base of producing and development-stage royalty interests across established mining jurisdictions.
Stikeman Elliott LLP acted as lead counsel to OR Royalties with a team that included David Massé, John Ciardullo, Donald Belovich, Julien Robitaille-Rodriguez, Zoey Aliasgari, Florence Harvey-Hudon, Natasha Crasto, Milena Kukolj, and Avery Chisholm (Corporate); John Lennard and Ashley Rasmussen (Tax); Patrick Welsh (Environmental); and Rachel Hutton, Avery Tsang, and Hannah Johnston (Real Estate).