Monday , March 4 2024

Base hits revenue record in June quarter

Mineral sands producer Base Resources has reported record quarterly revenue for the three months to June, as ilmenite and zircon prices continued to improve.

The unit revenue per tonne of product sold during the quarter increased to $297/t, compared with the $258/t reported in the previous quarter.

Mineral sands production from the Kwale operation, in Kenya, also improved during the quarter, with ilmenite production reaching 119 364 t, compared with the 112 368 t in the previous quarter. Rutile production decreased to 22 762 t, compared with the 23 107 t in the March quarter, and zircon production increased to 8 375 t, from 8 212 t produced in the previous quarter.

Mined tonnage from Kwale increased from 2.7-million tonnes to 3-million tonnes, while mined grade improved from 6.7% heavy mineral to 8.4% heavy mineral, as mining continued in the high-grade Central Dune.

During the financial year ended June, rutile production reached 90 625 t, while ilmenite production was reported at 467 359 t and zircon production at 34 228 t.

Looking ahead at 2018, Base expected rutile production to reach between 88 000 t and 94 000 t, while ilmenite production would reach between 400 000 t and 430 000 t and zircon production was estimated at between 32 000 t and 37 000 t.

Check Also

East Africa Poised for Takeoff: Manufacturing, Energy, and Agriculture Sectors Soar

East Africa is on the cusp of an exciting economic transformation, with key sectors like …