Completion of Brazilian Iron

RNS Number : 3487X

Anglo Pacific Group PLC

03 December 2010

 



News Release

December 3, 2010

Anglo Pacific Group PLC

Completion of Brazilian Iron Ore Royalty Acquisition

Anglo Pacific Group PLC (the "Group") (LSE: APF) (TSX: APY), the natural resources royalty company, today announces the completion of the Brazilian iron ore royalty acquisition from Beadell Resources Limited for a sum of A$31.25million in cash.

As previously announced on September 23, 2010 the royalty covers the Anglo American plc operated Amapá iron ore system as well as Beadell's mining concession and exploration tenements in the Amapá region of northern Brazil.

Anglo Pacific is pleased to have completed the acquisition of this high quality producing royalty.  The first royalty payment from Anglo American plc for the month of December is expected in January 2011.

Anglo Pacific Group plc is a global natural resources royalties company. The strategy of the Group is to expand its mineral royalty interests in low-cost, long-life mining assets. The Group achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of the Group to pay a substantial proportion of these royalties to shareholders as dividends.

For further information:

Anglo Pacific Group PLC                                                                                [phone]

Peter Boycott, Chairman

Matthew Tack, Finance Director

Liberum Capital                                                                                              [phone]

Chris Bowman

Ellen Francis

Scott Harris                                                                                                    [phone]

Stephen Scott

James O'Shaughnessy

Website:                                                                                                  www.anglopacificgroup.com

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.

Although Anglo Pacific has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.

 

END

 

 

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