Kenmare Resources plc
Kenmare Resources plc
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275 per year (1-10 users)
(GST included in Australia)
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Planned and unplanned Mar 2018 qtr (Q1 18) stoppages at global titanium minerals-zircon producer Kenmare Resources’ sole-producing Moma Titanium Minerals Mine in N Mozambique have pushed production down, but offset by tightened product markets and agreements for higher ilmenite-zircon prices for Q2 18.
Big titanium minerals-zircon producer Kenmare Resources has seen both production and shipments of all its products hit record levels in the Dec 2017 year (FY/CY 17), but with a warning that 2018 is expected to moderate slightly, mainly due to lower opening stockpiles.
FY 17 production and shipments for all major titanium minerals/zircon producer Kenmare Resources’ products have hit record levels, but may moderate in 2018
Titanium minerals-zircon producer Kenmare Resources has posted another ilmenite production record from its Moma mine in N Mozambique for the Sept 2017 qtr (Q3 17), up 4% on the previous qtr to 257,500t with Chinese demand improving in the last couple of months.
Titanium minerals/zircon miner Kenmare Resources has notched a big turnaround $US9.4M after tax net profit for the June 2017 half (H1 17) from H1 16’s $47.1M loss on all production metrics from its Moma project in N Mozambique well up.
Revenues jumped 82% to $102.4M on increased prices/sales volumes, with cash operating costs down 14% to $131t for EBITDA up to $29.8M from H1 16’s negative $10.7M.
Leading global titanium minerals-zircon producer Kenmare Resources has had a big June 2017 half year (H1 17), with all production metrics from its Moma Titanium minerals in N Mozambique well up on H1 2016 to take FYCY17 production up over 2016.
Titanium minerals and zircon producer Kenmare has maintained solid results at the Moma mine in N Mozambique amid strong markets through the March qtr (Q1). In what's usually a lower producing period, heavy mineral concentrate output rose 29% to 353,500t (Q1 2016: 274,800t), with ilmenite delivering 256,500t (185,000t) and zircon 18,500t (11,600t).
Kenmare says it supports 2017 ilmenite production guidance at 0.95-0.01Mt,
The strong recovery in the ilmenite market over the past 12 months has enabled leading global producer Kenmare to post EBITDA of $US5.2M in the 12 months to Dec 2016, from its negative $11.5M in FY2015. With total finished products shipments from the Moma mine in Mozambique increasing 28% to a record 1.02Mt, total attributable loss improved to $15.2M from a loss of $60.6M.
One of the world’s leading titanium minerals and zircon producers Kenmare Resources has posted a record FY/CY 2016 year for both production and shipments of all products, with 2017 production expected to rise further as mine optimisation continues and unit production costs fall further.
A slew of titanium/zircon prodn records in FY16 has Kenmare Resources eyeing more in 2017