Business
Q1 2019 Production Report
Q1 2019 Production Report.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n Q1 2019 Production ReportKenmare Resources plc (“Kenmare” or “the Company”)11 April 2019Q1 2019 Production ReportKenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the \"Mine\" or \"Moma\") in northern Mozambique, is pleased to provide a trading update for the quarter ending 31 March 2019 (“Q1 2019”).Overview Continued strong safety performance with lost time injury frequency rate (“LTIFR”) of 0.08 per 200,000 man-hours worked (Q1 2018: 0.38) – Kenmare’s lowest ever level15% increase in Heavy Mineral Concentrate (\"HMC\") production to 358,700 tonnes (Q1 2018: 311,000 tonnes)13% increase in ilmenite production to 238,100 tonnes (Q1 2018: 211,000 tonnes)7% increase in primary zircon production to 12,100 tonnes (Q1 2018: 11,300 tonnes)80% increase in concentrates production to 10,100 tonnes (Q1 2018: 5,600 tonnes), benefitting from the introduction of the mineral sands concentrate product34% decrease in total shipments of finished products to 176,500 tonnes (Q1 2018: 267,200 tonnes) as a result of adverse weather conditions, including Cyclone Idai, and unscheduled maintenance work – 2019 total shipment volumes are not expected to be affectedDefinitive Feasibility Study (“DFS”) for Wet Concentrator Plant (“WCP”) B move to Pilivili is progressing well and on track for completion before the end of H1 2019Improved demand for ilmenite in Q1 2019 and market expected to tighten further during the remainder of the yearZircon market remained stable in Q1 2019, with strong long-term fundamentalsStatement from Michael Carvill, Managing Director:“Production in Q1 2019 was robust, benefitting from increased contribution from WCP B following the upgrade work in 2018. Shipments were lower than anticipated due to poor sea conditions and unplanned maintenance work. However we are confident that 2019 total sales volumes will not be impacted. Titanium feedstock markets strengthened in Q1 2019 and we expect ilmenite prices to continue to rise in Q2 2019, driven by increasing Chinese demand.We are deeply saddened by the devastating effect of Cyclone Idai on the people of central Mozambique and commend our employees’ collective initiative to support the relief effort.”ProductionProduction from the Moma Mine in Q1 2019 was as follows: Q1 2...