Anglo Pacific Group PLC - London-based natural resources company - Completes acquisition of 70% net interest in a stream on cobalt production from Voisey's Bay mine in Canada for USD205 million cash. Notes a further contingent consideration of up to USD27 million also will be paid.
"This transaction is not only the largest in our company's history, but it also marks the start of a fundamental transformation, as we reposition the business towards 21st century commodities and become an increasingly battery metals focused royalty and streaming company. The transaction provides Anglo Pacific with significant exposure to a strategic mineral coupled with additional scale with which to undertake similar transactions to further expand our commodity exposure in high growth sectors," says Chief Executive Julian Treger.
Current stock price: 138.28 pence
Year-to-date change: up 8.2%
By Zoe Wickens; zoewickens@alliancenews.com
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