Kenmare Resources plc Reports Production and Net Debt Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Production Guidance for the Year 2018
For the year, the company's ilmenite production increased by 11% to 998,200 tonnes compared to 903,300 tonnes a year ago. Zircon production increased by 9% to 74,000 tonnes compared to 68,200 tonnes a year ago. Heavy Mineral Concentrate ("HMC") production decreased 6% to 1,323,000 tonnes compared to 1,405,500 tonnes a year ago. 9,100 tonnes of Rutile and total shpiments were 1,040,400 tonnes.
Net debt declined to USD 34.1 million.
For the year 2018, the company expected ilmenite production of 900,000 to 1,000,000 tonnes. Zircon of 65,000 to 72,000 tonnes. Rutile of 7,000 to 8,000 tonnes.