Kemmel Resources revises its 2019 titanium production guidance.

Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the world's leading producers of titanium and zircon, operates the Moma Titanium Mine in northern Mozambique and announced that it does not expect to meet production guidance of 900,000 to 960,000 tons of titanium iron ore for the full year 2019 (FY). Titanium iron ore production is expected to be 3% 3% lower than the lower limit of the guidance range in FY19. The guidelines for all other products and shipments remain the same

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following the successful automation of WCP B dredgers, Kenmare is automating the first of WCP A's two dredgers to improve throughput and utilization at the plant. The implementation of the project was more challenging than expected, resulting in a shutdown of ubimed production and reducing the balance of Kenmare's iron ore production to less than 900,000 tonnes in FY19. In recent weeks, the company's power reliability has also declined as a result of state grid upgrades, resulting in a decline in heavy mineral refined ore production in the fourth quarter of 2019. The upgrade of the transmission network has now been completed.
, the 2019 fiscal year titanium iron ore production guidelines were revised to 870,000 to 900,000 tons. While the total cash operating costs guidance remained unchanged ($151-$167 million), the cash operating costs per ton guide was revised from $150-160 to $160-165 as a result of reduced production.
2019, the production guidelines for Kenmare joint products are maintained at 44,500-52,000 tons of native zircon, 8100-9500 tons of redstone and 33,500-43,500 tons of refined ore. Kenmare also expects total shipments to exceed 1 million tonnes in fiscal 2019 due to strong inventory supply, as the company's titanium raw materials market remains tight and prices rise.
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