[Source: Business Daily, by Victor Juma]
Australian mining firm Base Resources has completed the migration of its titanium mining activities to a new site (South Dune) in Kwale.
This, the company said, will allow it to extract an additional 171 million in resource estimates.
The shift comes after the company exhausted titanium minerals at Central Dune where it started mining.
“Following a successful and on-schedule transition, mining rates are now back to nameplate capacity with all three hydraulic mining units fully operational. The Kwale operations mineral separation plant operated on stockpiled heavy mineral concentrate throughout the transition period to ensure uninterrupted production.”
The migration is expected to extend the company’s local operations beyond 2024, benefiting employees and the government which earns royalties at a rate of 2.5 percent of the value of export sales.
“On the basis of current ore reserves, Kwale operations will continue until mid-2022, which will be extended to mid-2024 subject to approval of the South Dune mining lease variation currently before the Kenyan government,” Base Resources said in an earlier trading update.
The company will continue drilling on the North Dune this year with an aim of increasing and further understanding the mineral reserves.
Base Resources recorded a 31.2 percent decline in the value of titanium exports from its Kwale mine in the quarter ended March on the back of reduced production.
[Full article: Business Daily, by Victor Juma]
