Anglo Pacific Group Plc
LSE : APF
TSX : APY

Anglo Pacific Group Plc

September 12, 2012 09:28 ET

Proposed Increase to Coal Royalty Rate in Queensland, Australia

LONDON, UNITED KINGDOM--(Marketwire - Sept. 12, 2012) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (LSE:APF)(TSX:APY) advises that the proposed changes to royalty rates, which were announced by the Queensland Government on September 11, 2012, are also expected to apply to the royalty rate of the coal royalties that the Company receives from the Kestrel and Crinum mines in Queensland, Australia, operated by Rio Tinto Limited and BHP Billiton Limited respectively.

In the 2012-2013 Queensland State Budget, the Queensland Government announced an increase in the royalty rates for coal sold, disposed of or used on or after October 1, 2012, which will also apply to Anglo Pacific's Kestrel and Crinum royalties. The effective royalty rate for a particular period depends on the average price per tonne of coal for the return period and is calculated on a tiered system. A rise from 10% to 12.5% is proposed where the average price per tonne is over A$100 and up to and including A$150, with an additional band of 15% where the average price is more than A$150 per tonne. The first A$100 will continue to attract a royalty rate of 7%.

More information can be found on the royalty rates section of the website of the Queensland Government Office of State Revenue (http://www.osr.qld.gov.au/royalties/rates.shtml).

Notes to editors:

About Anglo Pacific Group PLC

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

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific Group PLC'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 Group PLC. 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 Group PLC 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 Group PLC'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 Group PLC 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 Group PLC 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.

Contact Information

  • Anglo Pacific Group PLC
    Peter Boycott
    Chairman
    +44 (0) 20 3435 7400

    Anglo Pacific Group PLC
    John Theobald
    Chief Executive Officer
    +44 (0) 20 3435 7400

    Anglo Pacific Group PLC
    Chris Orchard
    Chief Investment Officer
    +44 (0) 20 3435 7400
    www.anglopacificgroup.com

    Liberum Capital
    Chris Bowman
    +44 (0) 20 3100 2000

    Liberum Capital
    Christopher Kololian
    +44 (0) 20 3100 2000

    Pelham Bell Pottinger
    Lorna Spears
    +44 (0) 20 7861 3232

    Pelham Bell Pottinger
    James MacFarlane
    +44 (0) 20 7861 3232