Anglo Pacific invests in Western Australia
Natural resources royalties firm Anglo Pacific is splashing out fourteen million dollars on part-ownership of a magnetite project located in Western Australia.
Natural resources royalties firm Anglo Pacific is splashing out fourteen million dollars on part-ownership of a magnetite project located in Western Australia.
The company said it had acquired 20% of the Mount Ida 1.5% Gross Revenue Iron Ore Royalty from Red Rock Resources.
It will pay the money in three tranches, the last of which will come when commercial production starts.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Anglo said the first instalment of $6m had been completed with the payment of almost $4m and the issue and allotment of 416,161 new shares in the capital of the company to Red Rock.
Anglo-Pacific makes its money by investing in mining projects and then getting an agreed percentage of the life-time revenues of the mine.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
The ten most expensive neighborhoods in London – do you live in one?
Homeowners in London are no strangers to seeing high property prices but some prime areas are far more expensive than others. We take a look at them
-
Trump tariffs challenged by US court
The legal basis underpinning Trump’s tariffs has been deemed unlawful by the US Court of International Trade. How have markets responded?