Kenmare on track to achieve full-year guidance after strengthened third-quarter output

Kenmare is on track to achieve its revised full-year production…

Kenmare is on track to achieve its revised full-year production guidance at its Moma mine, in Mozambique, after output strengthened in the third quarter, MD Michael Carvill says.

Heavy minerals concentrate production decreased by 7% year-on-year to 414 600 t, but was 30% higher than in the second quarter of this year.

Ilmenite production decreased by 4% year-on-year but increased by 32% quarter-on-quarter, while primary zircon production decreased by 18% year-on-year, but increased by 22% quarter-on-quarter.

Kenmare’s total shipments of finished products reached 163 400 t for the third quarter.

“Following strong product pricing in the first half of this year, weaker global economic activity impacted the markets for Kenmare’s products in the third quarter, although demand for our high-quality ilmenite remains resilient.

“Shipments were impacted by the loading of two vessels completing after quarter-end, meaning they will be attributed to the fourth quarter,” says Carvill.

Meanwhile, the definitive feasibility study for the upgrade and relocation of Wet Concentrator Plant A is expected to be completed in the first half of 2024, with orders already placed for the replacement dredges, given their long lead times.

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