Mining in Kwale close to profitability
09 April 2014, 16:22
Nairobi - Base Resources announced the departure of
the first 7 000-tonne bulk shipment of rutile from its Likoni Port Facility as well as the first containers of zircon via the Mombasa Port container facility.
"Both the rutile and zircon shipments were scheduled for late March but vessel availability had resulted in shipment being delayed.
With these shipments and the 45300 tonnes of ilmenite exported to date, the Kwale operations have now completed the transition from the construction project to operating mine successfully producing all products to specification," the Australian company stated.
It said payment for the first ilmenite shipment was received in March and with the commencement of rutile and zircon sales, Base will be generating positive operating cash flows in the next month.
- CAJ News
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