Business
Kenmare Resources plc : Q2 2014 Production Report
Kenmare Resources plc : Q2 2014 Production Report.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n Kenmare Resources plc : Q2 2014 Production ReportKenmare Resources plc (\"Kenmare\" or \"the Company\")8 July 2014 Q2 2014 Production ReportOverview Record production of ilmenite and primary zircon was achieved for Q2 2014 and for JuneIlmenite production in H1 increased 47% to 445,600 tonnes (H1 2013: 302,600 tonnes)Zircon production in H1 increased 12% to 21,400 tonnes (H1 2013: 19,100 tonnes)Total shipments of finished products in H1 increased 36% to 399,000 tonnes (H1 2013: 294,100 tonnes)Installation of the backup diesel-powered generating plant in JulyContinued strategic focus to increase production whilst identifying and realising operational efficiencies to reduce unit costsStatement from Michael Carvill, Managing Director: \"Kenmare continued to deliver increased production and remains on track to achieving name plate capacity on a sustainable basis. Though product prices remain subdued, we are focusing on the elements within our control to reduce unit costs and conserve cash in this subdued market environment. Unit cost reduction will be driven by further production increases in the second half of the year and complemented by the operational efficiencies we are targeting to reduce costs. We will provide a further update on these initiatives with our half-yearly results in August.\"ProductionProduction from the Moma Mine for Q2 2014 and H1 2014 was as follows: Q2-2014Q1-2014Variance H1-2014H1-2013Variancetonnestonnes%tonnestonnes%Excavated Ore * 8,746,100 7,543,000 16% 16,289,100 9,984,300 63% Grade* 4.40% 4.21% 5% 4.31% 5.68% -24% Production HMC 317,200 287,000 11% 604,200 480,000 26% Ilmenite 234,800 210,800 11% 445,600 302,600 47% Zircon 12,600 8,800 43% 21,400 19,100 12% of which primary ...