UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
July 2026
Commission File Number: 001-43208
The Metals Royalty Company Inc.
1900 Dome Tower
333 7th Ave SW
Calgary, AB, T2P 2Z1
British Columbia, Canada
(403) 984-1941
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F x
Form 40-F ¨
INFORMATION CONTAINED IN THIS REPORT ON FORM
6-K
On July 13, 2026, The Metals Royalty Company Inc (the “Company”)
issued a press release titled “The Metals Royalty Company Announces Completion of First Production Blast at Mesabi Metallics.”
A copy of the press release is furnished here as Exhibit 99.1 and shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
TABLE OF CONTENTS
| Exhibit No. |
|
Description |
| 99.1 |
|
Press Release dated July 13, 2026 |
SIGNATURE
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.
| The Metals Royalty Company Inc. |
|
| |
|
|
| By: |
/s/ Brian Paes Braga |
|
| Name: |
Brian Paes Braga |
|
| Title: |
Chief Executive Officer |
|
Date: July 14, 2026
Exhibit 99.1
The Metals Royalty
Company Announces Completion of First Production Blast at Mesabi Metallics
First ore blasted
at TMCR’s royalty asset opens the mine’s first ramp toward pellet production
LONDON, UK, July 13, 2026 –
The Metals Royalty Company Inc. (“TMCR” or the “Company”) (Nasdaq: TMCR), a purpose-built financing platform
dedicated to advancing U.S. critical mineral security and re-industrialization, today announced that its portfolio royalty asset, the
Mesabi Metallics iron ore project in Nashwauk, Minnesota (the “Mesabi Project”), has successfully completed its first production
blast, a defining milestone in Mesabi’s drive to become the first new iron ore mine and pellet plant built in Minnesota in fifty
years.
Highlights:
| • | First production blast completed
– On July 10, 2026, Mesabi Metallics fired its first production blast, using a
66-hole pattern to fracture approximately 211,000 tons of ore. The blast opened the first
ramp into the bottom of the pit, clearing the way for 400-ton haul trucks to commence production. |
| • | On schedule for first pellet production
– The blast represents an on-schedule step toward first pellet production, with
weekly blasting expected to continue as the mine advances toward full-scale production. |
| • | Royalty-bearing ore now moving –
Ore mined at the Mesabi Project is expected to be processed into DR-grade pellets subject
to TMCR’s 1.0% Index-Priced Gross Overriding Production Royalty with a Revenue Floor
(the “Mesabi Royalty”), positioning the Company to begin generating its first
royalty revenue as production commences and ramps up, with anticipated annual royalty cash
flow potential of approximately $11 million per annum at 7.28 Mtpa over 23 years with near-term
pathway to 8.5 Mtpa and approximately $13 million per annum. |
Management Commentary
“The first production blast marks
the transition of our Mesabi investment from a construction story to a production story,” said Brian Paes-Braga, Executive Co-Chairman
and CEO of TMCR. “Having walked the full Nashwauk site just weeks ago, I saw a team prepared for exactly this moment – and
it is very satisfying to watch that readiness translate into ore on the ground, on schedule. More than 200,000 tons was fractured in
this first shot alone, and it marks the beginning of the final approach to TMCR’s first royalty revenue.”
“Every ton of ore that comes out
of this mine represents American jobs, American investment, and American capability being put back to work,” added Joe Broking,
CEO of Mesabi Metallics. “We are committed to investing in the Iron Range to keep powering America’s steel, America’s
shipyards, and America’s defense industrial base.”
About Mesabi
Metallics
Mesabi Metallics
Company LLC, an Essar Group company, is completing a state-of-the-art DR-grade iron ore mine and pellet plant in Nashwauk, Minnesota,
representing approximately $2.5 billion in total investment. Upon commissioning, targeted for H2 2026, Mesabi will be one of the only
significant domestic producers of merchant DR-grade iron ore pellets in North America, with a mine life of 23 years.
About The Metals
Royalty Company Inc.
The Metals Royalty
Company Inc. (Nasdaq: TMCR) is a purpose-built financing platform dedicated to advancing U.S. critical mineral security and re-industrialization.
The Company acquires and manages metals and mineral royalties, streams, and similar structured interests across the full value chain
- supporting American defense, AI infrastructure, energy systems, and industrial capacity. TMCR’s royalty-based business model
is designed to enable participation in the long-term cash flows and commodity upside of strategically significant assets, with reduced
exposure to the operational and development risks typically associated with resource production. For more information, please visit www.sec.gov
and the Company’s website www.themetalsroyaltyco.com.
Technical Information
The operational
data regarding the Mesabi Project contained in this press release, including blast and tonnage data, is based on information provided
by Mesabi Metallics and has not been independently verified by the Company.. The Company's expectations regarding commissioning timing,
royalty cash flow potential, mine life, and production capacity are based on management's internal models and information provided by
Mesabi Metallics.
Cautionary Note
Regarding Forward-Looking Statements
The Private Securities
Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains
forward-looking statements which constitute "forward-looking statements" within the meaning of Section 27A of the Securities
Act and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable securities laws, which reflect management of the
Company’s expectations regarding its future growth, future business plans and opportunities, expected activities and other statements
about future events, results or performance. These forward-looking statements include, among other things, statements relating to the
Mesabi Project, the revenue generating potential with respect to TMCR’s industry and business plans, the potential impact of government
policy, market opportunity, the Company’s ability to execute on its business plan and to acquire and manage additional royalty
interests and other statements that are statements other than historical facts. When the Company and its management uses words such as
“may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,”
“project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not a guarantee of future performance and are based on a number of estimates and assumptions
of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well
as other factors that management believes to be relevant and reasonable in the circumstances as of the date of this press release. Forward-looking
statements involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed
in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties
and risks related to: the timing and amount of any royalty revenue under the Mesabi Royalty; the economic potential and timing of production
at the Mesabi Project; TMCR’s limited operating history and the risks associated with new business development; TMCR’s potential
inability to acquire additional royalty, stream or similar interests, or to achieve profitability and positive cash flow;dependence on
the performance of, and information provided by, the operators of the projects underlying TMCR’s royalty interests ; market conditions;
competitive dynamics; regulatory changes; and other factors discussed in the “Risk Factors” section of the Company’s
Form 20-F and subsequent reports filed with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.
For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press
release.
Investor Relations Contact
Lucas A. Zimmerman
MZ Group – MZ North America
(949) 259-4987
TMCR@mzgroup.us
www.mzgroup.us
