7207565 Canada owns a 1% net smelter royalty interest in the Black Thor, Black Label and Big
Daddy chromite deposits in Ontario, Canada.
The chromite deposits, located in the Ring of Fire region of northern Ontario, are owned and operated by Cliffs Natural Resources.
Cliffs is now undertaking an environmental assessment for Black Thor as part of its project development plans.
Anglo Pacific chairman Peter Boycott said the acquisition fits well with the company’s strategy for growth and demonstrates strong synergies with its existing royalty portfolio which has a significant focus on steel making raw materials.
"The group anticipates that the royalties from these chromite deposits, the largest known deposits of chromite ore in North America, will provide long term cash flows and continuing revenue growth for shareholders," Boycott said.
