15th Jan 2021 06:55
Kenmare Resources PLC - lithium and zircon producer in Mozambique - Heavy mineral concentrate output rises 45% year-on-year in fourth quarter of 2020 to 384,700 tonnes. Ilmenite fourth quarter output up 7% annually to 219,100 tonnes, and primary zircon production improves 3% to 11,200 tonnes, but rutile output falls 26% to 1,400 tonnes. For the whole of 2020, HMC output flat at 1.2 million tonnes, ilmenite sees 15% fall to 756,000 tonnes, and zircon production falls 8% to 43,300 tonnes. Rutile output sees largest 2020 fall to 6,000 tonnes, down 28% from 2019. Kenmare also outlines 2021 output guidance. Expects ilmenite output between 1.1 million and 1.2 million tonnes, at least a 46% rise. Zircon production is tipped to improve at least 23% to between 53,100 to 57,9000 tonnes while rutile output is expected to be between 9,500 to 10,300 tonnes, at least a 58% hike.
Current stock price: 413.00 pence
Year-to-date change: up 32%
By Eric Cunha; [email protected]
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