Royalty Deals Are Getting Bigger as Mining Costs Rise | Brett Heath

Royalty Deals Are Getting Bigger as Mining Costs Rise | Brett Heath

Brett Heath, CEO of Metalla Royalty & Streaming, joins Kitco Mining’s Paul Harris at the 2026 Mining Forum Americas in Colorado Springs to explain why he believes streams are becoming a “mainstream form of financing” for the mining industry.

Heath argues that rising borrowing costs and increasingly expensive copper builds could create a larger role for royalty and streaming capital, with some future transactions potentially reaching several billion dollars. He also explains why larger deals could lead to more syndication across the royalty sector.

Heath discusses Metalla’s growing cash flow, what approaching the US$1 billion market-cap threshold means for the company, and its 1.5% NSR covering Gosselin and portions of Côté. He also addresses Tether’s growing position in Metalla and explains why greater access to capital has not changed the company’s acquisition discipline: “we are not going to grow for the sake of growth.”

Heath outlines upcoming catalysts across Gosselin, Taca Taca, Copper World and Castle Mountain as Metalla’s portfolio continues to mature.

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Special thanks to our sponsor, Metalla Royalty & Streaming. To learn more, visit: https://www.metallaroyalty.com/

00:35 – Why Streams Can Beat Debt
02:38 – Why Bigger Royalty Deals Are Coming
03:27 – Copper’s Next Build Cycle
04:32 – How Higher Rates Reshape Mining Finance
05:38 – Why Copper Projects Still Take Years
07:20 – Metalla’s Copper Royalty Portfolio
08:13 – Will Royalty Deals Be Syndicated?
09:18 – Metalla’s Cash Flow Step Change
11:19 – What a US$1 Billion Market Cap Changes
12:37 – Repricing Metalla’s Gosselin Royalty
14:33 – Tether’s Growing Stake in Metalla
16:28 – Why Metalla Is Staying Disciplined
17:52 – Metalla’s Next 12 to 18 Month Catalysts
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