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anglo pacific group plc

Soaring iron ore and gold prices boost WA’s economic outlook

A predicted “mini gold rush” in Western Australia, combined with skyrocketing iron ore prices, is renewing optimism about the state’s long-subdued economy.

The iron ore price also continues to climb, following the “supply shock” from the dam disaster at Vale’s iron ore mine in Brazil in January.

Based on WA treasury estimates, with every $US1 increase in the iron ore price WA receives an extra $81 million.

Anglo Pacific Group PLC (LON:APF) has a 1.5% life of mine GRR over three exploration tenements in the central Pilbara region of Western Australia owned by a wholly-owned subsidiary of BHP Group (LON:BHP), which is dual-listed on the LSE and ASX.

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