Derrick Pattenden vividly recalls the moment he came across a February 2024 press release announcing that the Nisga’a Nation had formed Nations Royalty, the first majority Indigenous-owned public royalty company in Canada. Pattenden wasted no time reaching out to its management team, eager to be part of the historic venture. What followed was the beginning of an exciting new chapter in his professional journey.

A seasoned investment banker with 15 years of experience in mining finance, specializing in mergers and acquisitions, and a member of the Mohawks of the Bay of Quinte First Nation (Tyendinaga) near Belleville, Ontario, Pattenden joined Nations Royalty as its chief investment officer in May 2024.

Nations Royalty partners with Indigenous groups across Canada by offering them the opportunity to exchange all or part of their future royalty payments—stemming from existing impact benefit agreements (IBAs)—for equity ownership in, or cash from, Nations Royalty. Additionally, Nations Royalty can serve as a financial adviser to Indigenous groups during the negotiation or renegotiation of IBAs.

Pattenden finds immense fulfillment in applying his finance experience to help Indigenous communities across Canada to navigate and negotiate IBA royalties.

“I get to work with Indigenous groups—sometimes [with] a population of just 300 people—and when [we’re] negotiating those very important terms with mining companies, it could impact their community for decades, so I get to apply all my knowledge to push back on weak arguments [from mining companies],” said Pattenden.

In addition to the rewarding nature of his work, Pattenden also embraces the opportunity to travel, which he considers to be one of the major perks of his role. Whereas his former job primarily took him to major Canadian cities, he now finds himself regularly visiting remote communities, where he has encountered many interesting people.

Pattenden sees tremendous opportunity for the future of Nations Royalty, particularly in the company’s ability to access Tier 1 royalty opportunities that are typically available only to larger mining royalty companies. He explained that many of Canada’s most valuable deposits are tightly held by major operators that rarely sell royalty interests unless under financial pressure. However, through existing IBAs, Indigenous communities sometimes already hold royalty rights on these world-class assets.

As an Indigenous-owned and -controlled company, Nations Royalty is uniquely positioned to unlock these opportunities that are usually inaccessible to smaller royalty companies, giving it a powerful edge in an industry where sourcing new royalties can be a significant challenge. Reflecting on the company’s potential, Pattenden remarked, “I firmly believe that some of the best royalties in the entire country are in Indigenous hands.”

He outlined three compelling reasons why Indigenous groups would be drawn to partner with Nations Royalty. First, it offers diversification—helping reduce financial risk for communities that rely heavily on a single mine for future income. Second, it enables them to bring future royalty payments forward, providing immediate capital for critical projects, like infrastructure or education, that benefit communities. Third, by pooling royalty assets with other Indigenous groups, they can unlock significantly higher value than they could alone—gaining strength through collaboration and collective scale.

When it comes to properly structuring royalty agreements with Indigenous communities, Pattenden emphasized the importance of tailoring each approach to the specific community. “I’m learning on this job that every single community is different,” he said. “There’s not really a cookie-cutter approach you can apply to all Indigenous groups across the country. You really need to [visit] their territory, start meeting not just the chief and council but also the community members. Start learning about them and show them that you’re serious about that relationship.”