Kenmare Resources- the company that operates the Moma titanium mine on the northeast coast of Mozambique – reported this Wednesday, 17 July, through a commercial update document for the first half of the year, that it is on ‘track’ to achieve its production guidance for the year 2024 in all declared metrics.
“Higher ore grades to be mined in the second half of the year are expected to constitute stronger production. Demand for all our products remains robust, and ilmenite prices in the first half were above our expectations, driven by increased global pigment production,’ emphasised the mining company’s managing director, Michael Carvill.
Quoted by Engineering News, he revealed that the company closed the period with a turnover of 58.5 million dollars, of which 34.4 million dollars was used to pay dividends, quotas and some debts, adding that the mining company is ‘well’ capitalised to finance the upgrade and transition of the wet concentrator plant (WCP) A and continue to generate returns for shareholders.
‘Up to 30 June, we reported a Lost Time Injury Frequency Rate (LTIFR) of 0.09 per 200,000 hours worked, representing a significant improvement on the 0.18 of the previous period,’ he described.
Carvill stressed that the mining company produced 342,600 tonnes of heavy mineral concentrate, an increase of 7%, driven by an 8% growth in the volumes of ore excavated and higher recoveries of heavy minerals.
“Production of ilmenite rose 8% to 238,600 tonnes, and zircon rose 12% to 13,000 tonnes. Total shipments of finished products totalled 234,700 tonnes, down 18% due to poor weather conditions and additional operational maintenance, which limited shipping times,’ he said.
In the period in question, the company experienced encouraging market conditions with strong demand for ilmenite and a robust order book.
