A huge increase in the contribution from its Kestrel coal royalty in Australia helped Anglo Pacific Holdings PLC (LON:APF) to record revenues.
Total royalty income in 2017 rose by 90% to £37.4mln, but it was Kestrel, which is being mined by Rio Tinto, that stood out.
Higher coal prices and more mining on Anglo’s royalty area saw Kestrel’s income rise 115% to £28.8mln.
Maracás Menchen, a vanadium royalty in Brazil, also chipped in strongly with its income jumping 150% to £2mln as prices soared and production increased.
Julian Treger, chief executive, said: "2017 was a record year for Anglo Pacific with royalty income of £37.4mln, and total income of £42.4mln when the cash flows from our Denison transaction are included.
Adjusted earnings rose by 82% to £30mln and shareholders get a 7p dividend for the year, a 17% increase.
Treger added that the group intends to maintain the momentum by acquiring new royalties as Anglo has access to over US$50m of liquidity from its balance sheet and a favourable commodity pricing outlook.
“Our pipeline is in very good shape and we move forward into 2018 with optimism."
Shares were unchanged at 152.5p.