LONDON (dpa-AFX) - Kenmare Resources plc (KMR.L), a producer of titanium minerals and zircon, Thursday said its shipments for the third quarter increased 85 percent to 302,700 tonnes from 163,400 tonnes a year ago due to the timing of shipments in the previous-year quarter.
The company noted that two large ilmenite shipments were completed after period end and attributed to fourth quarter of 2023.
Heavy Mineral Concentrate (HMC) production was 355,400 tonnes in the quarter, down 14 percent from last year, mainly due to a 12 percent decline in ore grades. Production of HMC processed also decreased 14 percent to 356,000; Ilmenite production was down 12 percent to 257,400 tonnes; Production of Concentrates including secondary zircon, mineral sands concentrate and a new trial concentrates product fell 8 percent to 13,500 tonnes. However, production of Primary zircon and Rutile increased 4 percent and 7 percent respectively.
'Production strengthened in Q3 compared to Q2, as expected, due to higher excavated ore volumes, and Kenmare is on track to achieve its 2024 guidance on all metrics,' said Tom Hickey, Managing Director.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
