Kenmare Resources 'first quarter 2024 production report

Kenmare Resources plc（伦敦证券交易所代码：KMR，ISE：KMR）是全球领先的钛矿和锆石生产商之一，在莫桑比克北部经营Moma钛矿（“矿山”或“Moma”），很高兴提供截至2024年3月31日的季度（“2024年第一季度”）的交易更新。

Managing Director Michael Carvill delivered a speech:

“我们在Moma矿山的团队现在已经工作了六个多月，没有发生误工伤害，我要祝贺我们所有的员工取得这一非凡的成就。

First-quarter production was in line with our expectations and in line with guidance. We expect production to increase over the rest of the year due to stronger grades and generally fewer seasonal power outages.

我们的产品在第一季度市场令人鼓舞，需求强于预期，尤其是钛铁矿。这是由钛颜料需求的复苏和钛金属市场的持续增长推动的。

overview

Heavy ore concentrate output in the first quarter of 2024 was 316,400 tons, unchanged from the first quarter of 2023 (315,000 tons); ilmenite output was 205,500 tons, unchanged from the first quarter of 2023 (204,300 tons).

由于矿物分离厂（“MSP”）正在进行大量维护工作，包括原生锆石产量 8,300 吨（2023 年第一季度：11,400 吨）、金红石产量 1,500 吨（2023 年第一季度：1,700 吨）和精矿产量 9,600 吨（2023 年第一季度：10,100 吨）导致其他成品产量下降；

Total shipments in the first quarter of 2024 were 242,900 tons, a decrease of 11% from the first quarter of 2023 (271,700 tons), excluding approximately 34,000 tons loaded in the first quarter but shipped in the second quarter;

2024 年第一季度的产品市场状况令人鼓舞，需求高于预期，Kenmare 第二季度的订单量强劲；

Kenmare is expected to meet its 2024 guidance targets and production is expected to increase in the second half of the year.

市场动态

In the first quarter of 2024, the Kenmare product market was strong, with stronger than expected demand, especially for the company's ilmenite products. The spot price of ilmenite has remained stable since the beginning of the fourth quarter of 2023, but the average receiving price in the first quarter declined compared with the previous quarter. This was due to the decline in contract prices, reflecting weak market conditions in the second half of 2023.

2024年第一季度，钛颜料行业的需求反弹幅度超过预期。为应对销售前景的改善，颜料生产商提高了产量，尤其是在欧洲和北美，钛铁矿库存处于低位。钛金属行业对钛原料的需求仍然强劲。

The supply of titanium raw materials is still at a high level, but the market is uncertain due to production interruptions due to the suspension of some operations in Mozambique and Sierra Leone.

农历新年后，锆石市场出现了一些积极的复苏迹象。优质产品供应受限，导致现货市场价格走强。这得益于印度不断增长的需求，但欧洲的需求仍然相对疲软。

Kenmare has strong orders in the second quarter of 2024 and expects to continue to reduce product inventories to meet this demand.