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| | | | The activities of Anglo Pacific Group plc are summarised as follows: Mineral Royalties Coal The Group, via its wholly owned Australian subsidiary Gordon Resources Limited, own 50% of mining and mineral rights which entitle it to coal royalty receipts from the Kestrel and Crinum mines, located in Queensland, Australia (other than Crown areas). These mines are operated by Rio Tinto Coal Australia and BM Alliance Coal Operations Pty Ltd (a 50/50 joint venture between BHP Billiton and Mitsubishi), respectively. The royalty rate to which the Company is presently entitled is prescribed by the Queensland Mineral Resources Act Regulations. These regulations currently stipulate that the basis of calculation is a two-tiered fixed percentage of the invoiced value of the coal, without deduction for any costs pertaining to rail and road freight or any other costs incurred in relation to the sale or disposal of the coal other than port and related charges. The regulations provide that currently a 7% rate applies to the value of coal produced by a mine sold below A$100 per tonne and a higher 10% rate applies to the value of coal sold above A$100 per tonne. Iron Ore and Iron Sands The Group owns a 1% Gross Revenue Royalty (GRR) on the Amapa Iron Ore mine in Brazil, operated by Anglo American. The Group owns a 2% NSR on the Jogjakarta Iron Sands project in Indonesia, operated by Indo Mines Limited. The Group owns a 1% GRR on the Isua Iron ore project in Greenland, operated by London Mining PLC. The Group also owns a 1.5% GRR on the Railway project exploration licences in the Pilbara region of Western Australia, owned by BHP Billiton Limited. Uranium The Group owns a 1% Net Smelter Royalty (NSR) over the Beverley Four Mile Uranium project in South Australia. The Group owns a 1% NSR over the Salamanca Uranium project in Spain, operated by Berkeley Resources Limited. The Group also owns the royalty rights to several mineral exploration tenures in the Athabasca Basin, Canada. Gold The Group owns a 2.5% NSR, escalating to 3% for gold prices in excess of US$1,100 per ounce, on the El Valle deposit in Spain, being developed by Orvana Minerals. The Group owns a 2.5% NSR on the Engenho gold project in Brazil, operated by Mundo Minerals Limited. The Group also owns a 2.5% NSR, escalating to 2.75% for gold prices in excess of US$1,250 per ounce, on the Midway and McKenzie Break properties in Quebec, Canada. In addition, an option to acquire a 2% royalty on Creso Exploration Inc's Duggan gold property in Ontario, Canada. Other Royalties The Group owns a 1% GRR on the Black Label, Black Thor and Big Daddy chromite deposits in Ontario, Canada, which are operated by Cliffs Natural Resources Inc. The Group owns a 3% GRR on the Bulqiza chromite project in Albania, operated by Empire Mining Corp. An option to acquire a 1.5% NSR on the Araguaia nickel project in Brazil, owned by Horizonte Minerals PLC. And, an option to acquire a 1% NSR on the Highbank Lake and Eastbank properties in Ontario, owned by Northern Shield Resources Inc. Group's Royalty Interests by Commodity as at September 30, 2011  Mining and exploration interests
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