Glencar chief executive Mr Hugh McCullough, the mining group's only executive director, received a total remuneration package of £136,515 last year, compared to £108,041 the previous year. The main factor in the increase was a rise in pension contributions from £6,914 to £30,500.

Mr McCullough's salary rose from £90,000 to £95,000 while benefits-in-kind fell fractionally from £11,127 to £11,015.

Glencar's six non-executive directors shared fees of £72,500 compared to fees of just £5,700 in 1996.