Kenmare boosts shipments of titanium minerals 173% in Q3 2021
(Kitco News) - Kenmare Resources, one of the leading global producers of titanium minerals and zircon, which operates the Moma titanium minerals mine in northern Mozambique, today reported production results for the quarter ending 30 September 2021.
According to the company's statement, its Q3 2021 Heavy Mineral Concentrate ("HMC") production of 413,400 tonnes was 60% higher compared to Q3 2020, in line with expectations.
The company's ilmenite production of 314,400 tonnes in Q3 2021 was an 87% increase compared to Q3 2020, setting a new record, while its primary zircon production of 15,700 tonnes was 44% higher compared to Q3 2020, benefitting from increased HMC production.
Importantly, the company reported total shipments of finished products of 322,600 tonnes, a 173% increase compared to Q3 2020.
The company added that despite expected lower grades in Q4 2021, it remains confident in the outlook for 2021 annual production and re-iterate its guidance of 1.1-1.2 million tonnes of ilmenite.
Commenting on the market conditions, Managing Director Michael Carvill said, "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."
Kenmare Resources is one of the world's largest producers of mineral sands products. Kenmare operates the Moma titanium minerals mine in Mozambique. Moma's production accounts for approximately 5% of global titanium feedstocks and the company supplies to customers operating in more than 15 countries.