Siobhan Lismore
Loading at Moma jetty: Kenmare is targeting to produce
“at capacity” in 2011 after a disappointing 2010
Ireland’s Kenmare Resources Plc admitted it has had a tough year in its 2010 preliminary results, released in late April, but said the outlook for 2011 was “very positive”.
The mineral sands producer, which operates the Moma mine in Mozambique, said that its optimism was based on expected higher prices for zircon and ilmenite in 2011 and an increase in its production levels.
Prices for ilmenite will continue to increase, Michael Carvill, managing director, told IM.
“I do not see any basis that they [prices] would not go up substantially,” he affirmed.
He added that the tightness in...