Anglo Pacific Group PLC
| Anglo Pacific Group PLC | |
|---|---|
| Based in | London |
| Active in | Tanzania, Canada, Spain, Australia |
| Targeted | base metals, energy fuels, precious metals |
Anglo Pacific Group PLC generates returns for shareholders by receiving royalties from coal and other mines, primarily in Australia, Canada and Europe - a substantial part of which it pays as shareholder dividends. The income is usually received by way of a "net smelter royalty" (NER) which varies between 1% and 2.5% on the delivered production.
However, in the past few years, it has branched out into gold and nickel, as well as adding uranium interests to its portfolio.
As of 2008, it had 100% control of the Groundhog and Trefi coal interests in British Columbia, Canada and, inter alia:
- 20% direct interest in Core Resources Pty Ltd
- 3.77% of Cambrian Mining PLC (see Audley European Opportunities Master Fund) [Hemscott 14 February 2008]
- 5.3% of Horizonte Minerals PLC [Horizonte Minerals plc Annual report, 31 March 2008]
In early 2009, IMX Resources sold its royalty in four Australian uranium tenements to Anglo Pacific for US$ 6 billion, in order to finance its exploration programme and which, says IMX, would keep the company “fully funded” until June 2010 [MJ 27 March 2009].
In July 2009, Anglo Pacific increased its shareholding of Royalco Resources Ltd to just over 31%; and in September it purchased a 2.5% royalty on Northern Star Mining Corporation’s Midway and McKenzie Break gold projects in Quebec, for C$8 million.
In 2009, the Group added four new "acquisitions" to its royalties' list: for uranium mined in South Australia (the Beverley project); for platinum from Northern Shield's properties in Ontario; in Northern Star's gold projects in Quebec; and in Berkeley Resources' uranium properites in Spain [Anglo Pacific Group, 2009 Annual Report, 24 February 2010].
In late 2010, Anglo Pacific also disclosed a 3.74% stake, held in African Eagle Resources plc, which is exploring the Dutwa nickel deposits in Tanzania [MJ 3 December 2010].
In early 2012, Anglo Pacific accepted a takeover bid for Canadian precious and base metals developer, Magma Metals Ltd. Anglo Pacific had been the largest shareholder(at 17%)until Australia's Panoramic Resources acquired 34% of Magma's shares by May 2 2012 and launched the bid [MJ 4 May 2012].
