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4 Jun 2008 07:00
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 +44 (0) 20 7318 6360
Peter Boycott, Chairman
Matthew Tack, Finance Director
Numis Securities +44 (0) 20 7260 1000
James Black
John Harrison
Scott Harris +44 (0) 20 7653 0030
Stephen Scott
James O'Shaughnessy
Website: www.anglopacificgroup.com
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