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Anglo Pacific doubles income

The mining royalties group has emerged from two very tough years with its balance sheet intact
March 23, 2016

Last year was terrible for commodity prices, but for Anglo Pacific (APF), 2015 was a "turning point". That's according to the mining royalty group's chief executive Julian Treger, who oversaw a 35 per cent reduction in overheads and a 149 per cent increase in royalty income.

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Almost two-fifths of the top line came from Anglo's stake in Whitehaven Coal's Narrabri mine in New South Wales, which was acquired last March. Strip that out, and the business would have done well on a like-for-like basis, too, as the entitlement to Rio Tinto's (RIO) Kestrel operations more than doubled to £3.6m. A forecast increase in the production taking place in Anglo's royalty areas in 2016 comes as coking coal prices recently posted their first increase in three years.

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