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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." 

 

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Price: 121 GBX

Market Cap: £258.67 m

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