H1 results showed the year had gotten off to a mediocre start with total portfolio income falling by four per cent year on year from
The dip came during a period of rapid transformation for the company which has reduced its exposure to coal. A total of 62 per cent of the Group’s portfolio is now derived from battery materials, up from 22 per cent at the end of 2020 while coal exposure fell from 33 to 19 per cent.
The company also completed its largest ever acquisition picking up Voisey’s Bay cobalt stream for
He said, “the first half results do not reflect what appears likely to be a strong year for Anglo Pacific.” Pointing to rising commodity prices for coking and thermal coal as well as Cobalt, Treger added that the company is “confident that the second half will see a significantly higher outturn.”
The results were accompanied by the announcement that Treger will step down as the company’s CEO.
He said that with 2021 being a “truly transformational” year for
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