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SEGMENT INFORMATION - Geographical (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2025 USD ($) | Sep. 30, 2024 USD ($) | Sep. 30, 2025 USD ($) segment | Sep. 30, 2024 USD ($) | Dec. 31, 2024 USD ($)
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Number of reportable segments | segment |  |  | 2 |  |
Total stream and royalty interests, net | $ 4,102,231 |  | $ 4,102,231 |  | $ 3,042,804
Revenue | 252,068 | $ 193,837 | 655,148 | $ 516,835 |
Cost of sales | 31,392 | 27,192 | 80,077 | 73,116 |
Production taxes | 2,418 | 1,520 | 6,381 | 4,550 |
Depletion | 32,821 | 36,091 | 96,807 | 110,433 |
Segment gross profit | 185,437 | 129,034 | 471,883 | 328,736 |
Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 2,337,942 |  | 2,337,942 |  | 1,253,170
Revenue | 166,081 | 133,052 | 421,754 | 358,531 |
Cost of sales | 31,392 | 27,192 | 80,077 | 73,116 |
Production taxes | 0 | 0 | 0 | 0 |
Depletion | 21,287 | 26,674 | 60,910 | 80,199 |
Segment gross profit | 113,402 | 79,186 | 280,767 | 205,216 |
Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 1,764,289 |  | 1,764,289 |  | 1,789,634
Revenue | 85,987 | 60,785 | 233,394 | 158,304 |
Cost of sales | 0 | 0 | 0 | 0 |
Production taxes | 2,418 | 1,520 | 6,381 | 4,550 |
Depletion | 11,534 | 9,417 | 35,897 | 30,234 |
Segment gross profit | 72,035 | 49,848 | 191,116 | 123,520 |
Africa |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 1,220,194 |  | 1,220,194 |  | 237,349
Africa | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 1,219,873 |  | 1,219,873 |  | 237,028
Revenue | 27,288 | 19,973 | 70,055 | 59,470 |
Africa | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 321 |  | 321 |  | 321
Canada |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 1,052,771 |  | 1,052,771 |  | 1,076,713
Canada | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 392,140 |  | 392,140 |  | 417,643
Revenue | 82,364 | 66,372 | 208,344 | 173,737 |
Canada | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 660,631 |  | 660,631 |  | 659,070
Revenue | 14,439 | 5,269 | 32,070 | 13,435 |
Dominican Republic |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 295,004 |  | 295,004 |  | 302,122
Dominican Republic | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 295,004 |  | 295,004 |  | 302,122
Revenue | 28,140 | 26,585 | 82,509 | 64,147 |
Dominican Republic | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 0 |  | 0 |  | 0
Chile |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 427,544 |  | 427,544 |  | 435,239
Chile | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 203,428 |  | 203,428 |  | 211,123
Revenue | 23,022 | 9,652 | 45,255 | 31,949 |
Chile | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 224,116 |  | 224,116 |  | 224,116
United States |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 801,697 |  | 801,697 |  | 827,277
United States | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 0 |  | 0 |  | 0
United States | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 801,697 |  | 801,697 |  | 827,277
Revenue | 37,080 | 34,131 | 105,478 | 83,484 |
Mexico |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 28,967 |  | 28,967 |  | 33,800
Mexico | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 0 |  | 0 |  | 0
Mexico | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 28,967 |  | 28,967 |  | 33,800
Revenue | 19,957 | 10,853 | 54,659 | 34,509 |
Australia |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 18,181 |  | 18,181 |  | 19,265
Australia | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 0 |  | 0 |  | 0
Australia | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 18,181 |  | 18,181 |  | 19,265
Revenue | 10,589 | 7,476 | 28,362 | 19,498 |
Rest of world |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 257,873 |  | 257,873 |  | 111,039
Rest of world | Stream interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 227,497 |  | 227,497 |  | 85,254
Revenue | 5,267 | 10,470 | 15,591 | 29,228 |
Rest of world | Royalty interest |  |  |  |  |
Long Lived Assets and Pre-Tax Income by Geographical Information |  |  |  |  |
Total stream and royalty interests, net | 30,376 |  | 30,376 |  | $ 25,785
Revenue | $ 3,922 | $ 3,056 | $ 12,825 | $ 7,378 |

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