Anglo Pacific rides royalty wave as bulk commodity prices firm
VANCOUVER (miningweekly.com) – A bullish Anglo Pacific Group on Wednesday announced that royalty income for the September quarter surged 147% year-on-year to £4.7-million, boosted by price activity in both coking and thermal coal prices since the half-year.
The LSE- and TSX-listed company said it saw the price of coking coal more than triple, and the price of thermal coal more than double since the half-year, which is posturing for a strong fourth-quarter result.
“We believe that more good news is still to come in Q4 2016, when increased coal prices and mining in our royalty areas should benefit the company still further,” stated CEO Julian Treger.
Anglo Pacific also advised that royalty income for 2016 was expected to be considerably higher than previous expectations. The company noted that Peabody and Glencore had settled contracts at $200/t, up 117%, and that it would make an announcement once prices had been set.
Anglo Pacific owns a portfolio of royalties on coal assets in Australia and remains one of the only listed royalty companies that provides high levels of exposure to coking coal price fluctuations.
It also has precious metals and uranium royalties outside Australia.
The company added it now expected full dividend cover for 2016 ahead of the previous guidance, and an acceleration in the timeframe when the group can consider gradually increasing its dividend.
“With the outlook for robust coal prices set to continue through H1 2017, we look forward to the corresponding benefit to our dividend cover,” Treger said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation