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Ecora Royalties PLC on Thursday reported lower revenue from its portfolio in 2025 and backed the long-term outlook of lower copper prices due to supply and demand fundamentals. In addition, it reported higher pretax profit, mostly on the back of a reversal of impairments of its metal streams. Shares in Ecora were down 4.8% to 123.80 pence each on Thursday at midday in London. The London-based critical minerals-focused royalty company with interests in the Americas, Europe and Africa, reported revenue of $55.9 million in 2025, decreasing by 6.2% from $59.6 million in 2024. It reported pretax profit of $12.6 million in 2025, more than doubling from $5.9 million in 2024. A $24.9 million impairment recognised in 2024 in relation to the Voisey’s Bay cobalt stream in Canada and associated taxes was reversed this year due to higher near-term volumes and higher price forecasts for the commodity. The proposed a final dividend of 1.4 US cents per share, up 26% from 1.11 cents the year prior, bringing the total dividend for 2025 to 2.0 cents per share, down 29% from 2.81. The company said its key commodity exposures performed strongly in the early part of 2026, but the long-term outlook for commodity prices continues to be underpinned by supply and demand fundamentals despite a volatility introduced by the conflict in Iran. It added that volume growth in base metals royalties and streams is expected to continue to offset a reduction in volume from the transition away from Kestrel, a steelmaking coalmine in Queensland, Australia. In 2026, it sees a number of catalysts to its business, including a final investment decision for the Santo Domingo copper-iron project in Chile, and a phase 2 study on the Mantos Blancos mine in the same country. It will also restart cathode operations at its Nifty mine in Western Australia, and publish the definitive feasibility study for the operations there and in Phalaborwa mine in South Africa in 2026. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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