Royalty revenue dipped 7% to £9.5mln in the three months to September, though a big increase in the dividend from iron ore group LIORC meant income overall for the quarter rose by 7% to £12.9mln.
For the nine months of 2019 so far, total income is up 39% to £46mln and combined with a substantial production rise at the Kestrel coal mine in Australia puts Anglo on course comfortably to beat last year’s £46.1mln.
Julian Treger, chief executive, highlighted that with US$75mln spent already it had also been a record year on the acquisition front for the group, a trend he expects to continue given Anglo’s financial position and the uncertain political backdrop.
“The recent weakness in certain commodity prices combined with the impact of continued ongoing global economic uncertainty, not least the US China trade tension, should continue to provide investment opportunities for Anglo Pacific, and we see this currently in our pipeline. “