Kenmare Resources reports record production of ilmenite, rutile and zircon in 2017. Ilmenite production increased 11% to 998,200 tonnes and zircon output increased 9% to 74,000 tonnes. Total shipments of finished products rose by 2% to 1,040,400 tonnes. Heavy mineral concentrate production decreased 6% to 1,323,000 tonnes. Kenmare said prices increased for all products during 2017 and net debt fell to $34.1m (2016: $44.8m). Managing director Michael Carvill said: '2017 was a further consecutive year of record delivery for Kenmare. 'Both production and shipments of all products were at record levels. 'Production in 2018 is expected to moderate slightly, mainly due to lower opening stockpiles, though ilmenite shipment volumes are expected to be maintained as finished goods inventory is drawn down. 'In 2018, Kenmare will upgrade capacity of Wet Concentrator Plant B ("WCP B") by up to 20% uplift in capacity. Further options are being examined which will both address grade reduction in future years and facilitate an increase in ilmenite production beyond 1 million tonnes per annum. 'Average received prices for H1 2018 are expected to continue to show improvement on H2 2017, benefitting from new contract prices and higher spot prices, particularly for zircon.'
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