| Anglo Pacific Group PLC: Kestrel Update | |
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LONDON, UNITED KINGDOM--(Marketwired - Jan 21, 2015) - Anglo Pacific Group PLC (TSX: APY) (LSE: APF)
LSE: APF; TSX: APY
News Release
January 21, 2015
Anglo Pacific Group PLC
Kestrel Update
Anglo Pacific Group PLC ("Anglo Pacific" or the "Company") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, is pleased to provide an update on Kestrel, the Company's main producing royalty, following the operational update by Rio Tinto.
- Gross royalty income from Kestrel expected to be approximately £1.7m for 2014. Total gross royalty income from Anglo Pacific's royalty portfolio for 2014 expected to be in the region of £3.2m to £3.6m (as per the Company's trading update on January 9, 2015)
- Kestrel produced 2.7Mt of coal in 2014 (2.16Mt of hard coking coal and 0.56Mt of thermal coal)
- Kestrel production rate expected to reach full capacity of 5.7Mt of coal per year within the next 12 to 18 months
- Anglo Pacific expects royalty income from Kestrel to increase substantially as mining returns to the Company's royalty lands during 2015
- Anglo Pacific expects Rio Tinto to mine over 90% of coal within the Company's royalty lands by 2017
The Kestrel Mine
The Kestrel mine is a low cost underground coking and thermal coal mine in Queensland, Australia operated and 80% owned by Rio Tinto and 20% owned by Mitsui. Rio Tinto completed in 2013 a US$2bn capital expenditure programme to extend the mine life (~18 years remaining) and increase production capacity to 5.7Mtpa.
Kestrel production for 2014 was 2.7Mt of coal (2.16Mt of hard coking coal and 0.56Mt of thermal coal). During Q4 2014 the Kestrel mine underwent a long wall change out which significantly reduced overall mined tonnage. The Kestrel production rate is expected to reach full capacity of 5.7Mt of coal per year within the next 12 to 18 months as the mine continues to ramp up.
Kestrel Production
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Q1 2014 |
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Q2 2014 |
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Q3 2014 |
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Q4 2014 |
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Full Year 2014 |
Hard coking coal ('000 tonnes) |
781 |
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613 |
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621 |
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149 |
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2,163 |
Thermal coal ('000 tonnes) |
88 |
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109 |
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56 |
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311 |
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564 |
Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/7414C_1-2015-1-21.pdf
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Anglo Pacific Group plc
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PRODUCER |
CODE : APF.L |
ISIN : GB0006449366 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo Pacific is based in United kingdom. Anglo Pacific produces iron in Brazil, and holds various exploration projects in Brazil. Its main asset in production is AMAPA in Brazil. Anglo Pacific is listed in Australia, in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 26.7 billions as of today (US$ 31.9 billions, € 32.2 billions). Its stock quote reached its lowest recent point on September 28, 2001 at GBX 10.02, and its highest recent level on October 05, 2022 at GBX 157.00. Anglo Pacific has 169 942 000 shares outstanding. |