Increased pricing supported Kenmare Resources revenue in the second quarter of the year as production fell, the company said.
Higher slimes recirculation affected excavated ore volumes and grades, and production is now expected to be at the lower end of its 2022 guidance, managing director Michael Carvill said.
In a trading update for the period to June 30th, the company said prices for ilmenite rose for the seventh quarter in a row and the market for its products continued to improve.
Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.