Star Royalties Ltd is a unique company in the mining industry that differentiates itself from its peers through its focus on royalty and streaming agreements. Unlike traditional mining companies that engage in exploration, development, and production of mineral resources, Star Royalties Ltd does not operate any mines or own any mining assets. Instead, it acquires royalty and streaming interests in mining projects.

This business model provides Star Royalties Ltd with several competitive advantages -

1. Diversification - By investing in a portfolio of royalty and streaming agreements across various mining projects, Star Royalties Ltd reduces its exposure to the risks associated with individual mines. This diversification helps to mitigate the impact of any potential operational or financial challenges faced by specific projects.

2. Low-cost structure - As a non-operating company, Star Royalties Ltd does not bear the costs and risks associated with mine development, production, and maintenance. This allows the company to maintain a lean cost structure and generate strong cash flows.

3. Limited exposure to commodity price fluctuations - Unlike traditional mining companies that are directly affected by fluctuations in commodity prices, Star Royalties Ltd's revenue is derived from royalty and streaming agreements, which are typically based on a fixed percentage of the project's production or revenue. This provides the company with a more stable and predictable income stream.

4. Access to high-quality projects - Star Royalties Ltd has the opportunity to invest in high-quality mining projects without the need for significant capital expenditures. This allows the company to participate in the success of these projects while minimizing the associated risks.

5. Expertise and network - The company's management team has extensive experience in the mining industry and a strong network of industry contacts. This expertise and network enable Star Royalties Ltd to identify and evaluate attractive investment opportunities and negotiate favorable royalty and streaming agreements.

Overall, Star Royalties Ltd's focus on royalty and streaming agreements, along with its diversification, low-cost structure, limited exposure to commodity price fluctuations, access to high-quality projects, and expertise, provide the company with a competitive edge in the mining industry.