Kenmare Resources releases Q1 2017 production results
2017-04-21 14:56:30 【Print】
BEIJING (Asian Metal) 21 Apr 17 - Kenmare Resources plc (“Kenmare Resources” or the “Company”), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, released its production results for the quarter ending 31 March 2017.
In Q1 2017, Kenmare mined 8 . 4 million tonnes of ore, up 19% on Q1 2016, at an average grade of 4 . 86%.
HMC production rose by 29% YOY to 353,500 tonnes (Q1 2016: 274,800 tonnes), benefitting from increased utilisation levels and supplemental mining . However, HMC production declined in comparison with Q4 2016, in line with previously guided lower grade expectations for 2017.
Ilmenite production increased by 39% to 256,500 tonnes (Q1 2016: 185,000 tonnes), maintaining the record production levels achieved in Q4 2016.
Total zircon production includes a 54% increase in primary zircon production to 12,800 tonnes (Q1 2016: 8,300 tonnes) . Secondary zircon volumes increased by 73% to 5,700 tonnes (Q1 2016: 3,300 tonnes) as recoveries from waste streams increased.
During Q1 2017 Kenmare shipped 256,100 tonnes of finished products, comprised of 245,000 tonnes of ilmenite, 10,100 tonnes of zircon (including 3,300 tonnes of secondary grade zircon) and 1,000 tonnes of rutile.
Closing stock of HMC at the end of Q1 2017 was 22,100 tonnes, compared with 66,500 tonnes at the start of the year . Closing stock of intermediate magnetic concentrate at the end of the period was 70,500 tonnes . Closing stock of finished products at the end of Q1 2017 was 212,200 tonnes, of which 60,000 tonnes were being held for a customer and which have been paid for.
China's titanium dioxide import volume statistics by major country by month