Kenmare, which operates the Moma titanium mine in Mozambique, has said production at the mine increased in the second half of 2010.
It said it produced just over 496,000 tonnes of mineral concentrate, up 8% from the first half of the year. Kenmare described the performance as 'very strong', given that mining operations were halted for a month in October.
Ilmenite production was up 12%, while zircon was 21% ahead. Rutile output more than doubled. The company said ilmenite was in strong demand from consumers in the US, Europe and China and prices were expected to increase significantly, as were zircon prices.
Total shipments of finished products from the mine in the second half came to 346,000 tonnes. The total for the year was 712,650 tonnes, an increase of 71% from 2009. Kenmare also said it was working on a plan to increase Moma's output by 50%.
The halting of operations in October came after a settling bond breached a wall, resulting in the release of water, sand and clay into a nearby village. Kenmare said all affected families had returned to their homes and had received compensation.
Shares in the company, which had risen sharply earlier, ended down 18.4% at 31 cent in Dublin.
