Covering 10,235 hectares, the coal licenses have been under-explored and could host more anthracite than reported, the company said.
The acquisition represents the consolidation of all the known anthracite-bearing tenure in the Groundhog and Panorama Coalfields.
It includes a 1% gross revenue royalty, or a $1 per ton royalty to Anglo Pacific on the anthracite produced from the assets as well as $500,000 in cash, a $2m 8% promissory loan note repayable within 18 months, and one million Atrum shares.
Atrum Coal executive director Russell Moran said: "The Groundhog coalfield in British Columbia, Canada boasts the world’s largest high grade and ultra-high grade anthracite endowment and we now own all the known anthracite-bearing tenure.
"Our long term strategy is to ultimately become the world’s largest exporter of high grade and ultra-high grade anthracite."
Anglo Pacific CEO Julian Treger said: "This transaction is consistent with Anglo Pacific’s strategy of monetising equity investments and growing our portfolio of royalties.
"We look forward to working with the Atrum Coal management team on the development of these coal properties in Canada."
The mine plan at Groundhog North could be extended as the anthracite seams continue west into the new coal licences, Atrum Coal said.
