This archive report was first published on 25 July 2019.
On July 25, 2019, Australian mining firm Base Resources announced a significant increase in the value of titanium exports from its Kwale mine, reaching Sh7 billion in the second quarter.
The company attributed the rise to higher international prices of the commodity, which more than compensated for reduced production and shipments.
According to Base Resources, the volume of exports dropped 1.5 percent to 139,592 tonnes, while production declined 20 percent to 118,787 tonnes due to a two-week interruption in operations as the company shifted to the South Dune.
However, the multinational benefited from the higher prices, with average revenue per tonne of sales increasing by 28.1 percent to $482 (Sh50,000) compared to $376 (Sh39,000) in the same period last year.
Base Resources expects the trend of higher prices to continue in the short term, driven by constraints on the global supply of sulphate ilmenite and high-grade chloride feedstocks.
