Kenmare Resources confident about recovery in production

Irish mining firm, Kenmare Resources is anticipating a stronger production roll-out for the second half of the year, after seeing the first six months blighted by storm-related power failures.

“Power stability is expected to improve following the installation of new power infrastructure in the third quarter,” the Dublin-based company — which owns and operates the Moma titanium mine in Mozambique — said yesterday, via an operational update.

However, the statement —which showed that ilmenite production decresed by 27%, to 324,100 tonnes in the first half of 2015, with zircon rising by 11% to 23,800 tonnes —prompted a 2.5% share price dip, although that was pared back later in the day.