Anglo Pacific Group Buys Brazilian Iron Ore Royalty For A$31.25 Million

Anglo Pacific Group PLC (APF.LN), the global natural resources royalties company, said Thursday it has agreed to purchase from Beadell Resources Limited the 1.0% gross iron ore revenue royalty rights covering the Anglo American PLC (AAL.LN) operated Amapá Iron Ore System as well as Beadell's mining concessions and exploration tenements in the Amapá region of northern Brazil, for A$31.25 million in cash.

MAIN FACTS:

-The Amapá Iron Ore System is majority owned by Anglo American with Cliff Natural Resources Inc. owning the remaining 30%.

-Anglo American expects to produce 4.0Mt of sinter feed and pellet feed in 2010 from the Amapá Iron Ore System and could increase production to 6.5Mt per annum with further capital investment.

-Anglo Pacific also agreed with Beadell a similar 1.0% gross iron ore revenue royalty over its mining concessions and exploration tenements which cover approximately 2,500km2 and are considered prospective for iron ore.

-Deal complements existing Kestrel metallurgical coal royalty and the recently acquired Pilbara iron ore royalty.

-Anglo Pacific shares at 1045 GMT up 8.30%, at 300 pence, valuing the company at GBP325.47 million.

-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; jana.weigand@dowjones.com

Beadell Resources (ASX:BDR)
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