Anglo Pacific Expects Better Royalties From Australia Mine
October 14 2014 - 09:37AM
Dow Jones News
LONDON-- Mining investor Anglo Pacific Group PLC (APF.LN)
Tuesday said income from its main producing royalty, the Kestrel
coal mine in Australia, is expected to be significantly higher than
previously assumed based on a recent update from miner Rio Tinto
PLC (RIO.LN).
The Company had previously expected minimal royalty income from
Kestrel for the first half of 2015, but now expects approximately
22% of production from Kestrel in to be within the Company's
royalty lands.
Shares at 0833 GMT, up 17 pence, or 14.6%, at 129 pence valuing
the company at GBP150.5 million ($242.2 million).
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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