$456 Million EMX Elemental Merger Creates Royalty Powerhouse With Global Reach

A $456 million all-stock merger between Elemental Altus and EMX Royalty is set to reshape the royalty sector. Speaking with Kitco Mining at the Precious Metals Summit in Beaver Creek, Elemental CEO Frederick Bell breaks down what he calls a “great combination” that forms a $1 billion intermediate royalty giant with 16 producing assets and a U.S. listing expected in October.

The newly branded Elemental Royalty will combine EMX’s technical strength with Elemental Altus’s cornerstone royalties and disciplined acquisition strategy. Bell highlights a $50 million cash balance at closing, $70–80 million in annual revenue, and a credit facility supporting up to $200 million, giving the group $250 million in capital firepower for new deals.

Backed by a $100 million investment from Tether, the merged company aims to aggressively scale via selective, high-impact royalty acquisitions—including the $52 million Laverton transaction, Elemental’s largest to date.

Subscribe to Kitco Mining for more interviews from Precious Metals Summit Beaver Creek.

00:31 Major Merger Announcement
01:02 Rationale Behind the Merger
01:55 Deal Genesis and Shareholder Synergies
03:07 Future Focus and Strategy
04:26 Recent Deals and Acquisitions
05:31 Operational Challenges and Achievements
06:24 Cost Structure and Value Drivers
08:03 Tether Investments and Financial Position
10:54 Market Conditions and Deal Flow
12:51 Competing in the Royalty Space
15:26 Consolidation Trends in the Industry
16:22 Company Evolution and Key Shareholders
18:19 Upcoming Catalysts and Future Plans

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