Anglo Pacific expects another record year as vanadium buoys royalty income
Date: Nov 1, 2018
Higher vanadium and coal prices again boosted mining royalty specialist Anglo Pacific Group PLC (LON:APF).
Income rose 27% to £12.1mln in the three months to September for a nine-month total of £32.9mln (£28.9m).
Brazil-based vanadium producer Maracás Menchen was the best performer, lifting its contribution by 146% to £1.4mln as the price of the steel additive soared.
Australian coking coal asset Kestrel improved by 26% as coal prices increased, while a special dividend meant a £0.9mln contribution from the recent acquisition of Labrador Iron.
Weak spots were Narribri, Anglo’s other coal royalty in Australia which was affected by mining changes though forecast production for the year remains unchanged.
