LONDON (dpa-AFX) - Kenmare Resources plc (KMR.L), a producer of titanium minerals and zircon, reported that its shipments for the fourth quarter of 2024 were 308,300 tonnes, down 5% from the prior year. The shipment volumes for the latest quarter included 261,300 tonnes of ilmenite, 30,300 tonnes of primary zircon, 3,700 tonnes of rutile, and 13,000 tonnes of concentrates.
Quarterly Heavy Mineral Concentrate production was 432,300 tonnes up 8% from the prior year. Ilmenite production for the quarter increased 14% year-over-year to 307,400 tonnes.
Ilmenite production in 2025 is expected to be between 930,000 and 1.05 million tonnes, with HMC production at a consistent level throughout the year.
Shipments are forecast to exceed production in 2025, supported by high levels of finished product stock.
On 11 October 2024, Kenmare paid its interim 2024 dividend of 15.0 US cents per share, representing a total interim distribution of $13.4 million. The Company expects total dividends in respect of 2024 to be at the upper end of Kenmare's dividend policy payout ratio of 20%-40% of profit after tax.
Kenmare plans to release its 2024 Preliminary Results on Wednesday, 26 March 2025.
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