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anglo pacific group plc

Mining exploration spending in Australia jumps to 5-year high

Australia is the world’s number two gold producer; the country’s tightening its grip on the trade in iron ore and coking coal; comes in at no 6 for copper; and is set to increase output of mineral-du-jour lithium from the current 38% to nearly half the global total within five years.

That’s the result not only of a rich mineral endowment but massive amounts of money spent on exploration across the continent.

After a sharp drop-off when it became clear that boom times for Chinese economic growth were beginning to taper, new data from the Australian Bureau of Statistics shows the country’s miners and explorers are once again pouring money into the sector.

 

Anglo Pacific Group plc (LON:APF) owns 50% of certain sub-stratum lands which, under Queensland law, entitle it to coal royalty receipts from the Kestrel mine. Kestrel is an underground coal mine located in the Bowen Basin, Queensland, Australia. It is operated by Rio Tinto Limited (‘Rio Tinto’). 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.