Franco-Nevada Corp

Franco-Nevada Corporation is a royalty and streaming company that provides financing to mining projects globally in exchange for a share of future production. Its business model is directly linked to the environmental impacts of extractive operations. The company holds royalties on numerous mining projects, including those associated with documented ecological damage, such as the Roșia Montană gold and silver project in Romania. This project, which involved Gabriel Resources—a company in which Franco-Nevada was a major financier—has faced decades of controversy over its potential for toxic contamination, including the risk of cyanide leaching and the destruction of a historic site, leading to significant local opposition and international arbitration.

While Franco-Nevada's 2025 sustainability report highlights water risk assessments and benchmarking, the company's portfolio remains tied to the mining sector's systemic environmental challenges. These include the potential for toxic tailings dam failures, deforestation, and habitat destruction inherent to large-scale mineral extraction. The broader context of "crimes in the supply chains of critical energy transition minerals," as noted in a 2025 report, underscores the severe environmental and social risks associated with the mining of materials like rare earth elements, a sector to which royalty companies like Franco-Nevada provide capital. The company's financial interests in these projects create a direct link to the associated environmental liabilities, even if the physical operations are conducted by partner mining companies.