Base Resources sees improved ilmenite and rutile prices over the quarter
November 01, 2023 at 10:01 am EDT
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Base Resources Limited (AIM:BSE, ASX:BSE) CFO Kevin Balloch talks Proactive through the company’s September quarter highlights. Prices for ilmenite and rutile improved during the period while zircon prices softened on sluggish demand. Meanwhile, mining at the Kwale operations in Kenya will end in December 2024 with processing to stop shortly thereafter due to limited tailings storage capacity. Activity at Kwale will now turn to detailed closure planning and transition to post-mining land use and progression of its Toliara Project in Madagascar.
Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. The Kwale South and North Dunes continued to be mined concurrently during the quarter, with two hydraulic mining units operating in each area. Mined tonnage was steady at 4.1 million tonnes (Mt) (last quarter: 4.1Mt). Mining rates in the North Dune improved during the quarter after the water pressure for one of the hydraulic mining units was boosted from the standard 25 bar to 32 bar. A second higher pressure hydraulic mining unit will be commissioned when mining commences on the Bumamani deposit in the March quarter of 2024. Consistent with mine plan, the heavy mineral (HM) grade of ore mined in the quarter was lower than last quarter at 2.5% (last quarter: 3.0%), and consequently, heavy mineral concentrate (HMC) production was lower at 84.8kt (last quarter: 103.2kt).
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Base Resources Limited is an Australia-based mineral sands producer and developer. The Company operates the Kwale Operation in Kenya, which produces a suite of mineral sands products, namely ilmenite, rutile, and zircon. It is also developing the Toliara Project in Madagascar and conducting an exploration program in Tanzania. Its segments include Kwale Operation, Toliara Project, and Other. The Kwale Operation segment includes its 100% owned Kwale Operation located in Kenya and engaged in the sale of rutile, ilmenite, and zircon. The Kwale Operation features a high-grade ore body with a high value mineral assemblage, rich in rutile. Its products from Kwale Operation are transported to the Companyâs own Likoni Port facility, located inside Mombasa Port, for export to customers. The Toliara Project is in south-west Madagascar, about 45 kilometers (km) north of the regional town and port of Toliara. The Toliara Project is underpinned by the high grade, ilmenite rich, Ranobe deposit.
BASE RESOURCES LIMITED 
