40% revenues rise for Kenmare Resources

Kenmare Resources has announced a 40% increase in revenue to $234.5m in 2012 from $167.5m in 2011.

The company said the increase was largely down to a rise in prices for titanium-iron oxide mineral ilmenite.

Compared with the previous year, average ilmenite prices realised were 98% higher in 2012 and were up 17% in the second half of 2012 compared with the first half of the year.