Mining company revenues up 83%

Irish mining company Kenmare Resources has reported an 83% rise in annual revenue on the back of an 18,000 tonne increase in shipments from its Moma titanium mine in Mozambique and a rise in mineral prices.

The Dublin-headquartered company shipped 730,400 tonnes of finished products last year, compared to 712,900 in 2010. This boosted the company’s full year 2011 revenues to $167.5 million (€129.2m), from $91.6m a year earlier.

Total production last year amounted to 842,900 tonnes of heavy mineral concentrate — including ilmenite and zircon — down from 956,900 tonnes produced in 2010.