Ken­mare en­dures pro­duc­tion dis­rup­tions

The Irish Times - Business - - MARKETS -

Ti­ta­nium and zir­con pro­ducer Ken­mare Re­sources re­ported a spate of pro­duc­tion dis­rup­tions but main­tained full year guid­ance in a first quar­ter up­date yes­ter­day.

The north-Mozam­bique fo­cused miner recorded a dip in heavy min­eral con­cen­trate pro­duc­tion due to sched­uled main­te­nance as well as un­planned stop­pages as il­menite and zir­con pro­duc­tion also dropped.

De­spite first quar­ter pro­duc­tion fall­ing be­low the com­pany’s ex­pected av­er­age, man­ag­ing di­rec­tor Michael Carvill said it was still ex­pect­ing higher pro­duc­tion vol­umes in sub­se­quent quar­ters.

Ken­mare shipped 267,200 tonnes of fin­ished prod­ucts in the quar­ter, up 4 per cent on the same pe­riod in 2017. The ma­jor­ity of that was il­menite, for which the com­pany has agreed a bet­ter price for the sec­ond quar­ter as de­mand rises.

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