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Kenmare Resources plc : First Quarter 2013 Prod...
Kenmare Resources plc : First Quarter 2013 Prod....
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n Kenmare Resources plc : First Quarter 2013 Production UpdateKenmare Resources plc (\"Kenmare\" or \"the Company\")9 April 2013First Quarter 2013 Production UpdateKenmare provides the following update of production during the first quarter of 2013:Production of Heavy Mineral Concentrate (HMC) was 189,800 tonnes (2012 Q4: 157,000 tonnes), up 20.9%. This was processed into 137,500 tonnes (2012 Q4: 123,600 tonnes) of ilmenite, up 11.2%, and 10,400 tonnes (2012 Q4: 10,700 tonnes) of zircon, down 2.9%, including 4,700 tonnes of a secondary zircon product (2012 Q4: 4,500 tonnes), up 4.0%. Production for March increased from previous months as the dredge pond comes towards the end of its transition from the low lying Namalope Flats zone onto a raised dunal plateau where it will mine for the coming years. January 2013tonnes February 2013tonnesMarch 2013tonnesQ1 2013tonnesHMC 51,400 52,300 86,100 189,800 Ilmenite 31,800 39,300 66,400 137,500 Zircon 3,000 3,500 3,900 10,400 Note: Secondary zircon product included in this table is as follows: January 2,000 tonnes; February 1,700 tonnes and March 1,000 tonnes for a total first quarter of 4,700 tonnes. 48,500 tonnes of ilmenite were shipped during the first quarter of 2013 (2012 Q4: 201,400 tonnes). This lower level of shipment was due to both low levels of stocks at year end and subdued market demand. Shipments have picked up in the second quarter, with six scheduled for April and five for May.Construction activity relating to the development of expanded facilities at Moma is nearing a close, with handover of Wet Concentrator Plant B and the new dredge from the contractor expected in the coming weeks. The operations team for the new facilities has been participating in staged commissioning of these plants for the last month. Handover will allow final commissioning, enabling the processing of first ore and the start of production ramp-up.The markets for titanium feedstocks and zircon remain subdued, but signs of improvement in volume demand in both markets are becoming evident, as demonstrated by increased shipping activity.For further information, please contact:Kenmare Resources plc.Michael Carvill, Managing Director &...