Company Watch: Kenmare profits riding high on buoyant mineral prices
The Irish mining company said low production volumes in the first half of the year had been offset by record prices for titanium minerals
Kenmare Resources could deliver bumper profits and sales in the second half of this year after the group’s production volumes were curtailed in the first six months.
Michael Carvill, managing director of the Irish mining company, said production volumes of titanium minerals were much lower than anticipated in the first half of 2022 due to outages at its Mozambique mine related to a high level of slimes in the water.
“Slimes are very small particles in the water that are so small and light they remain in the water and don’t settle. We had to get the slimes level under control, or it could have become a bigger problem,” Carvill told the Business Post.
