Anglo Pacific Group PLC Announces First Production Announced by Brazilian Nickel PLC

LONDON, UNITED KINGDOM / ACCESS CABLE / July 4, 2022 / Anglo Pacific Group PLC (LSE:APF, TSX:APY) is pleased to report that Brazilian Nickel PLC has announced the start of production of the PNP1000 small-scale plant at the Piauí Nickel Project in Brazil (First Nickel from PNP1000 – Brazilian Nickel PLC).

The annual production guidance for 2022 is 300 tons of nickel and 3 tons of cobalt increasing to 1400 tons of nickel and 35 tons of cobalt in 2023.


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Anglo Pacific was an initial sponsor of the Piauí project, investing US$2 million in September 2017, in exchange for a 1.25% royalty on the project. 2022 will be a pivotal year for Brazilian Nickel, during which they are anticipated to successfully achieve multiple important milestones, including the completion of a bankable feasibility study currently underway by SNC-Lavalin in connection with the large-scale project. As part of the agreement, the Group has the option to acquire, for an additional consideration of US$70 million, incremental royalty rights of 3% to partially finance the construction of a mine with an expected annual production capacity of up to 24 Kt of nickel. and 1 Kt of cobalt.

The Piauí project has the potential to become a significant asset in the Group’s portfolio, with a large-scale operation contributing annual royalty income ranging between US$12.5 and 17.5 million based on current consensus forecasts. of long-term brokers, thereby further accelerating the Company’s transition to commodity futures.

For more information:

Anglo Pacific Group PLC


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+44 (0) 20 3435 7400

Marc Bishop Lafleche – CEO

Kevin Flynn – CFO

Geoff Callow – Head of Investor Relations

Website:

www.anglopacificgroup.com

Berenberg

+44 (0) 20 3207 7800

Matthew Armitt/Jennifer Lee/Detlir Elezi Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister/Alexander Allen/David McKeown

RBC Capital Markets

Farid Dadashev / Jamil Miah

+44 (0) 20 7653 4000

Camarco

+44 (0) 20 3757 4997

Gordon Poole/Owen Roberts/Charlotte Hollinshead

Notes to editors

About Anglo-Pacific

Anglo Pacific Group PLC is a global natural resource royalty and conveyance company. The company’s strategy is to become a leading natural resources company by investing in high-quality projects in preferred jurisdictions with trusted counterparties, backed by strong ESG principles. It is an ongoing policy of the Company to pay a substantial portion of these royalties and flows to shareholders as dividends.

This information is provided by RNS, the news service of the London Values Exchange. RNS is approved by the Financial Conduct Authority to act as a primary information provider in the UK. Terms and conditions may apply regarding the use and distribution of this information. For more information contact [email protected] or visit www.rns.com.

FONT: Anglo Pacific Group PLC

See source version at access cable.com:
https://www.accesswire.com/707456/Anglo-Pacific-Group-PLC-Announces-First-production-announced-by-Brazilian-Nickel-PLC

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