Franco-Nevada cleared to process Cobre Panamá ore

Franco-Nevada Corporation reports that the Government of Panama has approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine, which had been halted after operations were suspended.

Rhea-AI Filing Summary

Franco-Nevada Corporation reports that the Government of Panama has approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine, which had been halted after operations were suspended.

Partner First Quantum estimates the stockpile at about 38 million tonnes of mineralized ore containing roughly 70,000 tonnes of recoverable copper. Based on this, Franco-Nevada expects processing to generate approximately 23,000 gold ounces and 265,000 silver ounces in deliveries to the company, consistent with prior guidance in its 2025 Management’s Discussion and Analysis.

Insights

Mining & royalties analyst

Approval to process Cobre Panamá stockpiles restores some expected metal deliveries to Franco-Nevada.

The approval to process stockpiled ore at Cobre Panamá revives a portion of Franco-Nevada’s stream from a previously suspended mine. The ore stockpile of about 38 million tonnes, with 70,000 tonnes of recoverable copper, underpins near-term production activity.

Franco-Nevada estimates this material will yield roughly 23,000 gold ounces and 265,000 silver ounces to the company, aligning with earlier MD&A disclosures. While the filing does not quantify revenue impact, it confirms a tangible volume of metal deliveries tied to existing contracts, subject to the usual operational and political risks highlighted in its cautionary language.

Key Figures

Stockpiled ore: 38 million tonnes Recoverable copper in stockpile: 70,000 tonnes Expected gold deliveries: 23,000 ounces +2 more

5 metrics

Stockpiled ore 38 million tonnes Estimated mineralized stockpile at Cobre Panamá

Recoverable copper in stockpile 70,000 tonnes Contained recoverable copper in Cobre Panamá stockpiles

Expected gold deliveries 23,000 ounces Estimated gold deliveries to Franco-Nevada from stockpile processing

Expected silver deliveries 265,000 ounces Estimated silver deliveries to Franco-Nevada from stockpile processing

Approval date April 7, 2026 Date of referenced First Quantum news release and Franco-Nevada news release

Key Terms

stockpiled ore, recoverable copper, Management’s Discussion and Analysis, forward-looking statements, +1 more

5 terms

stockpiled ore financial

"approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine"

recoverable copper financial

"containing approximately 70,000 tonnes of recoverable copper"

Management’s Discussion and Analysis financial

"as previously disclosed in Franco-Nevada’s 2025 Management’s Discussion and Analysis"

Management’s discussion and analysis (MD&A) is a narrative section of a company’s financial filing where executives explain the recent financial results, underlying causes of those results, trends they see, and material risks and uncertainties in everyday language. Investors rely on it like a company’s report card with the manager’s comments—helping interpret raw numbers, judge future prospects and cash needs, and spot warnings or opportunities that the financial statements alone may not reveal.

forward-looking statements regulatory

"This press release contains “forward-looking information” and “forward-looking statements”"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Annual Information Form regulatory

"please refer to Franco-Nevada’s most recent Annual Information Form filed with the Canadian securities regulatory authorities"

A company's annual information form is a comprehensive regulatory filing that lays out its business description, key assets, risks, legal matters and other background details shareholders need to understand the company’s operations. Think of it as a detailed owner’s manual or dossier that supplements financial statements, helping investors do deeper homework on how the business works and what could affect its future performance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Franco-Nevada (FNV) announce about the Cobre Panamá mine?

Franco-Nevada announced that Panama’s government has approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine. This follows a suspension of operations and allows existing ore piles to be processed and shipped, benefiting Franco-Nevada’s streaming interests.

How large is the stockpile at Cobre Panamá mentioned by Franco-Nevada (FNV)?

The stockpile at Cobre Panamá is estimated by First Quantum at approximately 38 million tonnes of mineralized ore. This material contains about 70,000 tonnes of recoverable copper, providing a significant source of production while regular mining operations remain suspended at the site.

What metal deliveries does Franco-Nevada (FNV) expect from the Cobre Panamá stockpiles?

Franco-Nevada expects processing of the Cobre Panamá stockpiles to result in approximately 23,000 gold ounces and 265,000 silver ounces being delivered to the company. These estimates are consistent with figures previously disclosed in Franco-Nevada’s 2025 Management’s Discussion and Analysis.

Who is Franco-Nevada’s partner at Cobre Panamá and what did they disclose?

Franco-Nevada’s partner at Cobre Panamá is First Quantum Minerals Ltd. First Quantum disclosed that Panama’s government has formally approved removal, processing and export of stockpiled ore at the mine, and estimated the stockpile size and recoverable copper content referenced by Franco-Nevada.

Are Franco-Nevada’s Cobre Panamá estimates considered forward-looking statements?

Yes. Franco-Nevada classifies statements about removal, processing and export of Cobre Panamá stockpiles and associated gold and silver deliveries as forward-looking. The company warns actual results may differ materially and directs investors to its Annual Information Form and Form 40-F for detailed risk factors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/07/2026 - 05:43 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

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For the month of April 2026

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Commission File Number 001-35286

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FRANCO-NEVADA CORPORATION

(Translation of registrant’s name into English)

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199 Bay Street, Suite 2000, P.O. Box 285, Commerce Court Postal Station, Toronto, Ontario, Canada M5L 1G9

(Address of principal executive offices)

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

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Form 20-F   ☐ Form 40-F   ☒

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INDEX TO EXHIBITS

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99.1 News Release dated April 7, 2026 — Government of Panama Approves Processing of Stockpiled Ore at Cobre Panamá

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SIGNATURE

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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​	FRANCO-NEVADA CORPORATION
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​	/s/ Lloyd Hong
Date: April 7, 2026	Lloyd Hong
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​	Chief Legal Officer & Corporate Secretary

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Exhibit 99.1

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NEWS RELEASE

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NEWS RELEASE

Toronto, April 7, 2026

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Government of Panama Approves Processing of Stockpiled Ore at Cobre Panamá

Franco-Nevada Corporation (“Franco-Nevada” or the “Company”) (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (“First Quantum”), announced today that the Government of Panama has formally approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine that was extracted prior to the suspension of operations.

For additional details, please refer to First Quantum’s news release dated April 7, 2026.

First Quantum has estimated the total stockpile at approximately 38 million tonnes of mineralized ore at varying grades, containing approximately 70,000 tonnes of recoverable copper. Franco-Nevada estimates that processing of this material will result in deliveries to the Company of approximately 23,000 gold ounces and 265,000 silver ounces, as previously disclosed in Franco-Nevada’s 2025 Management’s Discussion and Analysis dated March 10, 2026.

For more information, please visit our website at www.franco-nevada.com or contact:

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Paul Brink		Sandip Rana
President & Chief Executive Officer		Chief Financial Officer
416-306-6305		416-306-6303
info@franco-nevada.com		​

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Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to the removal, processing and export of stockpiled ore at the Cobre Panamá mine and associated gold and silver deliveries to Franco-Nevada. There can be no assurance that such forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

For additional information with respect to risks, uncertainties and assumptions relating to Franco-Nevada’s business and assets, please refer to Franco-Nevada’s most recent Annual Information Form filed with the Canadian securities regulatory authorities on www.sedarplus.com and Franco-Nevada’s most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as of the date of this press release only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 13.0 KB