MFC Industrial Ltd., formerly Terra Nova Royalty Corp., is a global commodity supply chain company that sources and delivers commodities and materials to clients all over the world. The Company is engaged in the financing and risk management aspect of the business. The Company operates in three segments: commodities and resources, which includes its commodities activities and mineral interests; merchant banking, which includes structured solutions, logistics and financial services and investing activities, and other, which encompasses its corporate and other investments and business interests, including its medical supplies and servicing business. In March 2014, the Company acquired 100% interest in F.J. Elsner & Co. GmbH. Effective March 31, 2014, MFC Industrial Ltd, a unit of 0915988 BC LTD, merged with Fesil AS, a Ranheim-based manufacturer and wholesaler of ferrosilicon (FeSi) and silicon metal (SiMetal).