leadf
logo-loader
viewAnglo Pacific Group PLC

Anglo Pacific notes impact of coronavirus minimal at this stage

Anglo Pacific has a broad portfolio of royalty assets

Anglo Pacific Group PLC -

Anglo Pacific Group PLC (LON:APF)(TSE:APY) has updated the market on the likely impact of the coronavirus on its business, ahead of a presentation to the BMO Capital Markets mining conference in Miami today.

While conceding that it’s too early to say what the overall impact will be on commodities prices, Anglo Pacific noted that generally prices have held up well and that coking coal prices are actually up 14% in the year-to-date.

Anglo Pacific derives the bulk of its revenues from coking coal.

What’s more, very little of the output from the two mines on which it holds substantial coking coal royalties, Kestrel and Narrabri, goes to China.  

“Whilst it is too early to form a view as to how events and markets will evolve for the year as a whole, the immediate impact of the Coronavirus on the commodities we are exposed to has been mildly positive as Chinese steel smelters have continued producing whilst there has been a slowdown in domestic coal and iron ore production,” said Julian Treger, chief executive of Anglo Pacific.

“We continue to monitor the ever-evolving situation." 

 

Quick facts: Anglo Pacific Group PLC

Price: 105.26 GBX

LSE:APF
Market: LSE
Market Cap: £192.08 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Anglo Pacific Group PLC named herein, including the promotion by the Company of Anglo Pacific Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Anglo Pacific 'well capitalised and focused on growth' ahead of stronger...

Anglo Pacific Group's (LON:APF) Kevin Flynn discusses its interim results to June 2020. He says while they've reported a decrease in revenue it's important to remember that the period was very much impacted by the uncertainty around coronavirus. ''A key highlight for us is that the vast majority...

3 weeks, 1 day ago

2 min read