Kenmare Resources expects price of Mozambican ilmenite sulfate to increase

mineral-ilmenite-mining_kenmare

The price of ilmenite sulfate is expected to increase due to decreases in production and high demand from customers, reported Kenmore Resources recently, which mines deposits of heavy minerals in Mozambique.

The Irish-owned company also said that from January to March of this year the price of ilmenite sulfate, the company’s flagship product, are expected to increase due to growth in demand, particularly from Chinese customers.

In the case of zircon, another of the minerals extracted in Moma, Nampula province, prices fell by about 10 percent in 2015 due to increased supply from new producers, and are expected to remain low as a result of competition between mining companies.

In the first quarter of 2016 the company processes more than 7 million tons of sands, and ilmenite production increased 39 percent to 185,000 tons year on year and zircon increased 12 percent to 11,600 tons.

Exports of minerals fell, meanwhile, by 37 percent to 132,700 tons due to the late arrival of a ship and the weather conditions at the end of March that caused delays in the departure of two vessels.

Source: Macauhub
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