The chairman of Kenmare Resources has told shareholders that progress towards full production at its Moma metals mine in Mozambique has been continuing. Charles Carvill said there had been record production in May, due to work on removing some of the limitations in the mine's plant and equipment.
Mr Carvill said the project to bring the mine to full production would be completed in July or August. The mine has been suffering from a number of production problems since making its first shipment of metal in late 2007.
He told the company's AGM production in May was 40,000 tonnes of ilmenite and 2,300 tonnes of zircon. 'This level of production means that the company has more than crossed the cash operating cost break-even point,' he added.
Ilmenite is used in the production of titanium dioxide pigment, which is largely used in paint, paper and plastic production.
Mr Carvill also said that Kenmare's chief operations officer, Jacob Deysel, would join the company's board of directors.
