The Kenmare mining company, which extracts heavy sands in northern Mozambique, envisions “a robust market, with strong prices achieved in the fourth quarter of 2022”, announced in a statement with the balance sheet for 2022. “2022 was another good year for Kenmare, with ilmenite production of 1,088,300 tonnes swt despite challenges from power outages in the fourth quarter,” announced Michael Carvill, managing director, in a note to investors. “As China further relaxes restrictions related to covid-19, we expect greater demand to sustain our sales in the region “, he detailed. The high price of heavy minerals allowed Kenmare to pay off a debt of around US$83 million (76.4 million euros) and reach a liquidity situation of around US$27 million (24.8 million euros), he said. . “It is an improvement of 110 million compared to the previous year, in addition to the payment of record dividends” to investors, he underlined. For 2023, the company has set a target to achieve ilmenite production within the range of 1,050,000 to 1,150,000 tons. Kenmare is one of the world’s largest producers of mineral sands, listed on the London and Dublin stock exchanges, with production from Moma, in the province of Nampula, northern Mozambique, representing approximately 8% of global titanium raw materials. The company supplies customers operating in more than 15 countries who use heavy minerals in paints, plastics and ceramics. (Lusa) Source: Carta de Moçambique
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