Kenmare Resources posts record ore production in Mozambique in 2016

18 January 2017

Irish mining company Kenmare Resources achieved record production in 2016 in the exploration of heavy sands deposits in Moma, Nampula, Mozambique, according to a statement released on Monday in Dublin.

The press release said the company saw record production in annual, quarterly and monthly terms (December) for all the main products extracted in Moma: ilmenite, rutile and zircon.

Ilmenite production increased by 18% to 903,300 tonnes and zircon rose 32% to 68,200 tonnes. Overall ore export increased 28% to a record of 1.024 million tonnes.

Managing Director Michael Carville said in the statement that world demand for ilmenite grew strongly in 2016, which led to higher prices per tonne from the second quarter onwards.

The company, which did not provide financial data, said its liabilities had fallen by 87% to US$44.9 million.

Carville also said that production this year is expected to grow further due to the use of faster process for ore recovery from the heavy sands and the product already extracted. (macauhub)