July 11, 2024

Sheldon Vanderkooy
Chief Financial Officer
Triple Flag Precious Metals Corp.
TD Canada Trust Tower
161 Bay Street, Suite 4535
Toronto, Ontario, Canada M5J 2S1

       Re: Triple Flag Precious Metals Corp.
           Form 40-F for the Fiscal Year Ended December 31, 2023
           File No. 001-41484
Dear Sheldon Vanderkooy:

       We have limited our review of your filing to the financial statements
and related
disclosures and have the following comments.

       Please respond to this letter within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe a
comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this letter, we may have additional
comments.

Form 40-F for the Fiscal Year Ended December 31, 2023
Exhibit 99.2
3. Summary of material accounting policies
e. Mineral interests, page 14

1.     Please tell us and revise your filing to disclose in greater detail the
type(s) of mineral
       resources (measured, indicated and/or inferred) that are included in
your estimated
       recoverable resources. Please discuss the following:
           The percentage of measured, indicated, and inferred resources that
you include in the
           portion of resources expected to be converted as reserves.
           The history of converting resources into proven and probable
reserves. If inferred
           resources have been included, separately address the history of
converting inferred
           resources into reserves.
           If inferred resources have been included, please discuss your basis
for their inclusion
           and how you compensated for the lower level of confidence in
estimating tonnage,
           grade and mineral content.
 July 11, 2024
Page 2

             Disclose the number of years of historical data that you use to
estimate your projected
           rates of converting resources to proven and probable reserves.
Discuss why you
           believe this historical data is indicative of future conversion
rates.
2.     You disclose that in cases where life of mine models and publicly
available mineral
       reserves and resources statements are not available, you base depletion
on the your best
       estimate of the volumes to be delivered under the contract. Please tell
us how you
       determine these volume estimates, identifying the underlying mineral
interests that are
       depleted using these estimates and the amounts capitalized related to
these interests.
3.     You indicate that you record costs related to your exploration stage
projects in accordance
       with IFRS 6. Please tell us and revise your filing to separately
disclose the amount of
       exploration and evaluation assets that are recognized in your financial
statements.
       Reference is made to paragraphs 23 through 25 of IFRS 6.
       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

       Please contact Frank Knapp at 202-551-3805 or Jennifer Monick at
202-551-3295 with
any questions.



                                                           Sincerely,

                                                           Division of
Corporation Finance
                                                           Office of Real
Estate & Construction
cc:   Christopher Bornhorst