Anglo Pacific closes acquisition of cobalt stream, obtains loan

Chicago, March 12 – Anglo Pacific Group plc announced that it completed on Feb. 24 its $205 million acquisition of a 70% net interest in a stream on cobalt production from the Voisey’s Bay mine in Canada from private equity sellers for cash and a further contingent consideration of up to $27 million, according to a press release.

The acquisition was partially financed with a new $180 million credit facility from a syndicate comprised of Scotiabank, RBC Capital Markets and Canadian Imperial Bank of Commerce.

Other financing came from an approximate $66 million in equity and a previously announced monetization of a portion of the group’s Labrador Iron Ore Royalty Corp.

Based in London, Anglo Pacific is a coal and uranium exploration company.

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