Ken­mare ‘on track’ for record pro­duc­tion level

The Irish Times - Business - - MARKETS - PETER HAMIL­TON

Ti­ta­nium and zir­con pro­ducer Ken­mare Re­sources is on track for its high­est an­nual il­menite pro­duc­tion, it said in a third quar­ter pro­duc­tion re­port.

The Mozam­bique-fo­cused miner said the third quar­ter rep­re­sented a “record quar­ter” for its il­menite pro­duc­tion while Chi­nese de­mand for the prod­uct is be­gin­ning to im­prove fol­low­ing a slow­down. Price in­creases are ex­pected in the zir­con market later this year, Michael Carvill, the com­pany’s man­ag­ing direc­tor, said.

Ship­ment vol­umes dropped by 26 per cent to 208,400 tonnes in the third quar­ter and were 25 per cent lower than the sec­ond quar­ter hav­ing been neg­a­tively im­pacted by “re­duced ship load­ing ca­pac­ity” as the com­pany’s main tran­ship­ment barge was tied up in reg­u­la­tory mat­ters.

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