Base Resources, a Titanium miner in Kenya, saw its sales surge 44.7 pc to Ksh 10.8 billion in the fourth quarter ended June 30, 2022.
The company says sales rose from Ksh 7.4 billion in 2021 driven by a surge in the international prices of the ilmenite, rutile, and zircon.
The Australian mineral sands producer is the owner of Base Titanium, which operates titanium mines in Kwale County.
The company says Mining operations continued on the South Dune orebody with mined tonnage lower than planned due to an eight-day stoppage in operations caused by flash flooding last month.
“Sand tails continued to be deposited into the mined-out Central Dune area and capped with a co-disposed slimes/sand layer to aid water retention and subsequent rehabilitation. Rehabilitation activities on both the Central Dune and the South Dune were put on hold during the rainy season through May and June, in line with normal practice,” said the firm.
The heavy mineral grade of ore mined in the quarter was higher at 4.1pc against 3.8pc in the same period last year.
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Base Resources continues to benefit from a global supply disruption of mineral sands production which lifted the price of titanium by 54.8pc in the quarter ended March from a year earlier.
The Company decided to proceed with the Bumamani Project during the quarter, extending Kwale Operations mine life by 13 months to December 2024.
“The Bumamani Project will be mined concurrently with the Kwale South Dune deposit to maximise mining rates and better manage tailings. Procurement and construction commenced during the quarter with mining on the North Dune scheduled for March 2023,” said Base Resources.
Procurement and construction commenced during the quarter with mining on the North Dune scheduled for March 2023.
The company says prospecting licence applications lodged for the Kuranze region about 70 km West of Kwale Operations, together with applications for an area South of Lamu, is yet to be approved.
A state imposed a moratorium on the issuance of prospecting licences in place since November 2019 has further affected the progress of all licence applications.
Source: KBC
