Mozambique: Kenmare Resources shipments up on Q1

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Mozambique: Kenmare Resources shipments up on Q1

3:16 CAT | 18 Apr 2023

File photo: Courtesy of Kenmare Resources

Kenmare Resources’ Moma heavy sands mine, in northern Mozambique ,increased shipments by 17% in the first quarter of 2023, the company announced on Wednesday (12-04).

“Shipments increased by 17% in Q1 2023 to 271,700 tonnes (Q1 2022: 231,500 tonnes), comprising 259,000 tonnes of ilmenite, 8,600 tonnes of primary zircon and 4,200 tonnes of concentrates,” reads the Kenmare Resources trading update for the quarter ending 31 March, 2023.

“A further large ilmenite shipment, partially-loaded at the end of the quarter, will be included in Q2 2023 figures,” the update adds.

This scenario contrasts with an 18% reduction in mining production at Moma in Nampula province resulting from a lightning storm in February.

READ: Mozambique: Bad weather affects heavy sands output at miner Kenmare Resources

“Despite this, production guidance for the year remains unchanged, albeit towards the bottom end of guidance for ilmenite and rutile,” says project manager Michael Carvill in the statement.

The mining company says it continues to expect “robust demand for all products”, having already enjoyed record financial performance in 2022.

Kenmare Resources plc is one of the world’s largest producers of mineral sands products. Listed on the London Stock Exchange and Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 7% of global titanium feedstocks.

The company supplies products to customers operating in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday quality-of-life items such as paints, plastics and ceramic tiles.

Kenmare has announced its Q1 2023 Production. We have maintained production guidance for the year, albeit towards the bottom end for ilmenite & rutile. Market conditions remain relatively robust and our shipments increased by 17% to 271,700 t. Read more: https://t.co/OhCUccoj8K pic.twitter.com/w1euG8Y4bY

— Kenmare Resources Plc (@KenmareRes) April 12, 2023