Anglo Pacific Sees Record 2Q Portfolio Contribution on Volumes, Strong Commodities Prices

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By Kyle Morris

Anglo Pacific Group PLC said Thursday that it booked a record portfolio contribution of $49.2 million in the second quarter, benefiting from consistent volumes and strong commodity prices during the first half of the year.

The natural resources royalty and streaming company said the result is 13% higher than the previous record of $43.6 million in the first quarter of 2022.

A year earlier, portfolio contribution for the second quarter was $13.6 million.

For the half as a whole, total portfolio contribution was $92.8 million, surpassing the $85.6 million generated in 2021 as a whole.

The company said the second quarter is expected to be the strongest of the year, with commodity prices falling so far in the second half and the gradual step down in Kestrel mine volumes in Australia likely to commence at the end of the year.

Shares in Anglo Pacific at 0854 GMT were up 1.60 pence, or 1.0%, at 162.80 pence.

Write to Kyle Morris at kyle.morris@dowjones.com