Business
Q4 2021 Production Report and FY 2022 Guidance
Q4 2021 Production Report and FY 2022 Guidance.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n \n \n Q4 2021 Production Report and FY 2022 Guidance\n \n \n \n \n K\n enmare Resources plc \n (“Kenmare” or “the Company” or “the Group”)\n 13 January 2022\n \n Q4 2021 Production Report and FY 2022 Guidance\n \n Kenmare 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 full year (“FY”) and fourth quarter ending 31 December 2021 (“Q4 2021”) and production guidance for FY 2022.\n \n Statement from Michael Carvill, Managing Director:\n \n \n “2021 was a record year for Kenmare in terms of\n safety,\n production\n and \n sales.\n On 6 January 2022 we achieved a \n major \n C\n ompany milestone\n of one year without a Lost Time Injury\n , representing more than six million hours worked.\n Ilmenite production increased \n 48\n % \n year\n -\n on\n -\n year\n , in line with guidance, \n while shipments were up 51% as demand for our products \n grew\n strong\n ly\n .\n I would like to thank \n all of\n our team for contributing to this fantastic result, particularly in light of the huge challenges we experienced from COVID-19\n in Q1\n .\n \n \n I\n n 2021 \n we received \n higher average prices for all products compared to 2020\n and the outlook for 2022 remains b\n u\n oyant\n . \n We \n were delighted to \n return\n almost \n US$100 million to shareholders \n during the year\n ,\n through dividend payments and \n a\n share buy-back\n , and we\n continue to target a 25% profit after tax \n total \n dividend payment \n in respect of 2021\n .\n ”\n \n \n O\n verview \n \n \n Lowest ever Lost Time Injury Frequency Rate (“LTIFR”) of 0.03 per 200,000 hours worked to 31 December 2021, representing an 88% improvement compared to 31 December 2020 (0.25)\n One year without a Lost Time Injury (“LTI”) achieved on 6 January 2022\n FY 2021 production guidance achieved for ilmenite, primary zircon and concentrates\n Record annual Heavy Mineral Concentrate (“HMC”) production of 1,555,900 tonnes in FY 2021, representing a 30% increase compared to FY 2020 (1,201,100 tonnes), benefitting from increased tonnes mined and higher ore grades\n Record annual product volumes; ilmenite production up 48% to 1,119,400 tonnes compared to FY 2020 (756,000 tonnes), ...