Kenmare Resources plc (KMR.L), on Thursday, issued a trading update for the quarter ending 31 March 2025.
The company's Q1 Ilmenite production reached 204,500 tonnes, aligning with expectations and in line with Q1 2024 levels. Heavy Mineral Concentrate or HMC production totaled 312,300 tonnes, compared to 316,400 tonnes reported last year.
Strong co-product production included 14,000 tonnes of primary zircon, up 69% YoY, and 2,500 tonnes of rutile, up 67% YoY, benefiting from improved recoveries and stockpile drawdowns.
Total shipments rose significantly by 26% YoY, achieving 307,100 tonnes thanks to enhanced marine operations. The company's Wet Concentrator Plant A upgrade remains on budget, with commissioning planned for Q3 2025, ahead of its transition to the Nataka ore zone.
Kenmare's markets continued to show resilience, bolstered by strong demand for ilmenite in the titanium metal and beneficiation sectors. With stable conditions and a robust order book for 2025, the company is on track to meet its operational and financial guidance.
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