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    APF   GB0006449366

ANGLO PACIFIC GROUP PLC

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Anglo Pacific : open to selling thermal coal royalties to boost ESG credentials

04/14/2021 | 11:52am EDT

LONDON, April 14 (Reuters) - Mining streaming company Anglo Pacific could be open to selling its thermal coal royalties to accelerate its transition away from the most polluting fossil fuel, chief executive Julian Treger said on Wednesday.

The London-listed company aims to decrease its reliance on coal and steel and attract a broader base of investors by adding more battery metals, including lithium, manganese and copper, to its streaming and royalty portfolio, Treger said.

A form of mining financing, royalties are payments that give the owner the right to receive a percentage of production from a mining operation, or retain a stake in it, in exchange for upfront payments to the producer.

Anglo Pacific has recently bought a share of cobalt production from Vale's Voisey's Bay mine in Canada for $205 million, marking the start of the transition to cleaner resources.

Cobalt, whose price has quadrupled in two years, is also one of the metals used to make batteries for electric vehicles.

With this acquisition, Anglo's exposure to coal and steel has gone down to around 20%, from 50% previously, but the company aims to take that "well below 20% by the end of the year via further acquisitions," Treger said.

The company is working on a base metals transaction that will require an upfront payment of $50 million, it previously said.

Its main thermal coal asset, Narrabri in Australia, contributed less than 10% to the company's 2020 revenue. (Reporting by Clara Denina. Editing by Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO PACIFIC GROUP PLC -0.45% 133.6 Delayed Quote.5.01%
VALE S.A. 0.16% 108.93 End-of-day quote.24.56%
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Financials
Sales 2021 46,6 M 64,8 M 64,8 M
Net income 2021 20,1 M 28,0 M 28,0 M
Net Debt 2021 79,7 M 111 M 111 M
P/E ratio 2021 13,9x
Yield 2021 5,49%
Capitalization 288 M 400 M 400 M
EV / Sales 2021 7,89x
EV / Sales 2022 6,46x
Nbr of Employees 9
Free-Float 91,3%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 1,34 GBX
Average target price 180,00 GBX
Spread / Average Target 13 373%
EPS Revisions
Managers and Directors
Julian Andre Treger Chief Executive Officer & Executive Director
Kevin Flynn Chief Financial Officer & Executive Director
Nicolas Patrick H. Meier Non-Executive Chairman
Marc Lafleche Chief Investment Officer
Robert H. Stan Independent Non-Executive Director
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