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During the three months to September, coal royalty revenues rose 13% to $US34.3 million.
"During the first nine months of 2005 our lessees have seen most of their short-term and spot coal sales roll over to higher prices,” chief operating officer Nick Carter said.
“This has led to our coal royalty revenue increasing by nearly one-third.
“While production at many of our lessees’ mines is constrained by the shortage of labour, permitting issues and transportation difficulties, our revenues and cash flows continued to increase," Carter said.
NRP said it expected to achieve the upper end of its 2005 guidance, announced in August to be $US143-150 million total revenues and $US75-85 million net profit.
"We again saw a very busy quarter on acquisitions and closed several transactions that will yield us substantial cash flow starting principally in 2007 and continuing for many years," Carter said.
