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Volume 441,599
January 18, 2019
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January 18, 2019
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Location: Australia
Royalty: Production Payment
Operator: Peabody Energy / Pembroke Resources

Effective January 31, 2018, Franco-Nevada purchased a royalty portfolio on tenements in the Bowen Basin coal region of Central Queensland for A$4.2 million. The royalty portfolio includes the southern and western portions of the Moorvale metallurgical coal mine operated by Peabody Energy Corporation. The Moorvale mine has been in production since 2003, and produced 1.9 million tonnes in 2016. The royalty rate is A$0.117 per tonne of coal mined. The royalty portfolio also includes the entire area of the Olive Downs Complex metallurgical coal mine development operated by Pembroke Resources Pty Ltd. The royalty rate of A$0.10 per tonne of coal mined is indexed to CPI adjustments from December 1997. In addition to the above royalties, the portfolio includes 33 other royalty agreements covering tenements in the Bowen Basin coal region.