Anglo Pacific Group (APF) expects to report income in 2019 of £57-59 million, up from £49.3 million in 2018, the company revealed in a trading update on Monday.
The 20% bump in income comes from royalty income, cashflows from mines, and other royalty financial instruments from various mines across Australia, Europe and the Americas.
The natural resources company focused on royalty and streaming, also hiked its dividend to at least 9p, already having paid or declared 4.875p, up from 8p in 2018.
Anglo Pacific told investors it expects another year of growth in 2020, after a full year of contribution from the Mantos copper mine in Chile, and its increased stake in Canadian Iron Ore company LIORC.
Shares in Anglo Pacific Group were trading 1.45% higher at 184.63p on Monday
Julian Treger, Anglo Pacific CEO said: "We are pleased to report yet another record year of income for Anglo Pacific, the second year in a row in which we have done so.”
He said: “Our income benefitted mainly from volume increases in the year, somewhat offset by the softening in commodity prices, particularly coal and vanadium, during H2 2019. We anticipate further volume growth to come in 2020, with increases expected at Kestrel, Narrabri and Maracas.”
He continued: “It is likely that the extractive industry will face further headwinds in 2020 and accessing capital will be more difficult. This should create opportunities for Anglo Pacific, and we will prioritise those commodities essential to deliver the technology required to achieve environmental and climate change targets in the years ahead."
Anglo Pacific is expected to release its audited full-year results on 25 March 2019.
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