LONDON (dpa-AFX) - Kenmare Resources Plc (KMR.L), an Irish miner, said in its second-quarter update on Wednesday that it is on track to achieve its annual guidance, helped by higher ore grades which are expected to support stronger production and shipments.
In addition, demand for all of products remained robust and ilmenite prices in the first-half were above the company's expectations, supported by increasing global pigment production, Kenmare said in a statement.
For the second-quarter, the company registered total shipments of 234,700 tons, lower than 285,100 tons, due to poor weather conditions and operational issues at Kenmare's shipping facilities.
Output of Heavy Mineral Concentrate or HMC stood at 342,600 tons as against 318,900 tons a year ago. This is the result of an 8 percent year-on-year increase in excavated ore volumes to 10,386,000 tons and higher heavy minerals recovery.
Ilmenite production stood at 238,600 tons, up 8 percent from last year quarter, due to a 6 percent increase in HMC processed and greater ilmenite content in the HMC.
Primary zircon production improved by 12 percent to 13,000 tons on increased HMC processed and benefit from drawdown of intermediate stocks and higher recoveries.
Excavated ore stood at 10,386,000 tons, up 8 percent from previous year.
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