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Kenmare confident on 2021 production guidance

Kenmare Resources, which operates the Moma Titanium Minerals Mine in Mozambique, has provided a trading update for the quarter ending 30 September 2021 (Q3,2021).

“Q3,2021 represents the first quarter of ilmenite production at nameplate capacity of 1.2 Mtpa, an 87% increase on the production achieved in Q3,2020. Despite expected lower grades in Q4, we remain confident in the outlook for 2021 annual production and re-iterate our guidance of 1.1-1.2 Mt of ilmenite,” says MD Michael Carvill.

“Whilst we continue to remain vigilant against the threats posed by COVID-19, I am pleased to report that over 90% of our employees have now received two doses of vaccine. I’m also delighted to report that this quarter’s record production was achieved with no LTI’s and, in the past few days, we’ve achieved a new company record of 5 million man hours worked without an LTI.

“Market conditions for all products remained strong in Q3,2021 with pricing strengthening quarter on quarter, a robust order book in place and positive outlook across markets.”

Q3,2021 overview

  • Improved LTIFR of 0.08 per 200,000 hours worked to 30 September 2021, zero lost time injuries recorded during the quarter
  • More than 90% of employees have now received two doses of COVID-19 vaccine
  • Heavy Mineral Concentrate production of 413,400 tonnes in Q3,2021, a 60% increase compared to Q3,2020, in line with expectations
  • Ilmenite production of 314,400 t in Q3,2021, an 87% increase compared to Q3,2020, the first full quarter’s production at nameplate capacity of 1.2 Mtpa of ilmenite, setting a new record
  • Primary zircon production of 15,700 tonnes, representing a 44% increase compared to Q3,2020, benefitting from increased HMC production
  • Total shipments of finished products of 322,600 tonnes, a 173% increase compared to Q3,2020