Ontario Teachers’ Pension Plan acquires portfolio of royalties on critical minerals in Western Australia

• Transaction will provide exposure to a diversified metals portfolio with strong long term demand drivers in a tier one jurisdiction

Toronto, ON, February 27, 2026 – Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) has closed a transaction to acquire a portfolio of royalties on critical minerals in Western Australia from RCF Management L.L.C. (“RCF”) and Global Advanced Metals Wodgina Pty Ltd and Global Advanced Metals Greenbushes Pty Ltd (together, “GAM”). The portfolio provides exposure to lithium, tin, and tantalum.

The portfolio’s primary assets are underpinned by the Greenbushes and Wodgina mines in Western Australia which have a long track record of production. As part of this transaction, Ontario Teachers’ will also gain royalties on a PFS-level development and an exploration project. The royalty structure provides commodity-linked cash flows and minimal exposure to operating and capital costs.

Michael Hudgin, Senior Managing Director, Natural Resources, Ontario Teachers’ Pension Plan said:

“Across the energy transition, digital infrastructure, and information and communications technologies, demand for critical minerals is set to rise exponentially. This transaction positions us to benefit from significant demand tailwinds.”

Andrew O’Donovan, Chief Executive Officer, GAM said:  

“We welcome this new partnership with Ontario Teachers’ Pension Plan Board and it is another endorsement of GAM’s important long-term position supplying ethically sourced critical minerals from its primary Australian and downstream US and Japan based processing facilities to electronics, aerospace, defense, medical and other vital industries.”

Ontario Teachers' Natural Resources group operates under a global mandate to seek investments in energy, metals, timberland, agriculture and aquaculture, and natural climate solutions.

About Ontario Teachers’

Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $269.6 billion as at June 30, 2025. Ontario Teachers’ is a fully funded defined benefit pension plan, and it invests in a broad array of asset classes to deliver retirement security for 343,000 working members and pensioners. For more information, visit otpp.com and follow us on LinkedIn. 

Contact details

Ontario Teachers’
Dan Madge/James DeCosimo

Email: media@otpp.com