Royalty Clarification

RNS Number : 9130V

Anglo Pacific Group PLC

04 June 2008

 



News Release

4th June 2008 

Anglo Pacific Group PLC 

Queensland State Announces Royalty Increase

Anglo Pacific Group plc ('the Company'), the natural resources royalty company, is very pleased to highlight that in the Queensland State Budget 2008-2009 released yesterday, it was announced that from 1st July 2008 a two tier coal royalty rate will now apply.  

The current 7 % rate will apply to the value of coal produced by a mine sold below $100 per tonne and a higher 10 % rate will apply to the value of coal sold above $100 per tonne. 

In April 2008, coking coal prices rose sharply to between US$250 and US$300 per tonne.

The increase in the coal royalty rate also applies to royalties paid from the Company's private ground.  

For further information:

Anglo Pacific Group plc             [phone]

Peter Boycott, Chairman

Matthew Tack, Finance Director

Numis Securities                        [phone]

James Black

John Harrison

Scott Harris                                [phone]

Stephen Scott

James O'Shaughnessy

Website:                www.anglopacificgroup.com

 

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