- Kenmare Resources , one of the leading global producers of titanium minerals and zircon, reported today that heavy mineral concentrate production increased 2% in 2022 to 1,586,200 tonnes , benefitting from higher excavated ore volumes mined.Kenmare added that shipments of finished products were 1,075,600 tonnes in 2022, a 16% decrease compared to record tonnes shipped in 2021, reflecting four months planned maintenance on a transshipment vessel.
The company's profit after tax increased by 60% to $206.0 million due to higher product prices, and diluted earnings per share increased by 83% to $2.12 . Managing Director Michael Carvill commented,"2022 was a record year of financial performance for Kenmare. Our financial results were driven by steady production volumes and record product prices. Mineral product revenues increased 18% and EBITDA rose by 39% to $298 million.