The benchmark iron ore spot price surged on Tuesday, closing at a six-month high. However, the strength did not flow through to lower or higher grades during the session.
According to Metal Bulletin, the price for 62% fines jumped 2.5% to $69.82 a tonne, leaving it at the highest level since March 16. In percentage terms it was the largest one-day gain since May 30, extending the rally from August 30 to 6%.
Anglo Pacific (LON:APF) has a diverse portfolio of assets in low-risk jurisdictions and is the only listed company on the London Stock Exchange focused on royalties connected with the mining of natural resources.
Its strategy is to build on its portfolio of royalties and metal streams, focusing on accelerating income growth through acquiring royalties in cash or near-term cash producing assets, as well as investment in earlier stage royalties.
It is a continuing policy of the Company to pay a substantial portion of these royalties to shareholders as dividends.