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| Kenmare Resources |
Strategic Production Gains in Ilmenite and Other Heavy Minerals
Consistent Production Growth Despite Market Fluctuations
Kenmare Resources, operating primarily in Mozambique, reported a 2% increase in ilmenite production in 2024, surpassing the midpoint of its forecasted production range. The company's production of heavy mineral concentrates (HMC) remained stable, with significant activity in the latter half of the year boosting overall output.
Record Outputs in Secondary Minerals and Future Outlook
The final quarter of 2024 saw Kenmare achieving notable increases in the production of ilmenite, zircon, and rutile, with ilmenite production alone jumping 14% year-on-year. These gains reflect heightened processing capacities and improved recovery rates, positioning Kenmare well within the upper spectrum of its annual guidance.
Impact of Global Market Dynamics on Production and Pricing
Amidst a backdrop of rising global demand for titanium feedstocks, Kenmare has navigated shifting market dynamics, including the redirection of Chinese pigment production and the impact of international duties. These factors, combined with strategic increases in HMC exports, have influenced pricing and production strategies moving forward.
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