Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) (LSE:APF, TSX:APY, OTC:AGPIF) Chief Executive Julian Treger catches up with Proactive's Katie Pilbeam to talk about selling their 1% gross revenue royalty over the Narrabri mine in Australia to the operator, Whitehaven Coal Limited (ASX:WHC) (ASX:WHC).
The deal is for up to US$36mln (£26mln), marking its exit from thermal coal. The sale improves the group's carbon footprint with a remaining portfolio of assets now increasingly weighted towards cobalt, vanadium, copper and nickel - commodities which will be essential to decarbonise energy generation in the years ahead, it said.
Anglo Pacific will receive fixed payments totalling US$21.6mln, along with contingent payments which could generate a further US$14mln.