Kenmare: Production of all products increased significantly in 2021

Kenmare: Production of all products increased significantly in 2021

The production of heavy mineral concentrate (HMC) in 2021 is 1.5559 million tons, an increase of 30% compared to 2020 (1.2011 million tons). This was due to the relocation of WCP B to the high-grade Pilivil belt in the third quarter of 2020, resulting in a 19% increase in ore grade to 4.63%. The increase in HMC’s production also benefited from a 14% increase in the volume of ore mined.
Volumes of all products increased in Q4 2021 compared to Q4 2020, thanks to higher HMC processing. Production of ilmenite in Q4 2021 is 246,000 tonnes, a 12% increase compared to Q4 2020 and above the 4% increase in HMC processing. This is due to increased recoveries and a drop in intermediate magnetic reserve in Q4 2021. Zircon sand concentrates performed similarly, with an 11% increase in production.
2021 was a record year for cargo volumes, with 1,285,300 tons of cargo shipped. This was a 51% increase from fiscal 2020 (853,100 tonnes), reflecting improved transshipment capacity, lower finished goods inventories and higher production. Cargo also benefits from increased transshipment capacity due to previously completed upgrades. Shipments during the year included 118.69 tonnes of ilmenite, 52,900 tonnes of zircon sand, 3,700 tonnes of rutile and 41,800 tonnes of medium tailings.
Higher average prices for all products in FY21, a momentum that continues into H1 2022 due to strong demand for Kenmare products and low ilmenite stocks in the global supply chain.

Table: Production output and forcast

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