Base resources achieves a 9% increase in production

Posted on : Thursday , 30th July 2015

Base Resources Limited has released its quarterly operational update for the Kwale mineral sands operations located in Kenya.

With consistently high availabilities and increased throughput in both the wet concentrator plant and mineral separation plant, the Company remains focused on driving product recoveries and increasing throughput opportunities.

The Company reported a 9% increase in production of final products quarter on quarter, including a 16% increase in rutile production.

Base Resources achieved record sales volumes across all products for the quarter ended 30 June 2015 and recorded no lost time injuries.

All operational requirements for achieving project completion on the Kwale project Debt Facility were successfully completed. On 15 June 2015, the Company made its first repayment of GBP11 million on the completed Kwale project Debt Facility.

Base Resources reported that the receipt of its Kenyan VAT refunds commenced in early July 2015.

On 19 May 2015, the Company appointed Keith Spence as the new Chairman of the Board. Spence is currently serving as the Non-Executive Chairman of Oil search limited and Independence Group NL.

Base Resources Limited is an ASX and AIM listed mineral sands producer, focused on the Kwale Mineral Sands Operations in Kenya.

Source : MINING AFRICA

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