WCP B move update
Kenmare previously announced three development projects that together have the objective of increasing annual ilmenite production to 1.2 million tonnes (plus co-products) on a sustainable basis from 2021, with the move of ("Wet Concentrator Plant") WCP B to the high grade Pilivili ore zone being the final project.
The increased production is expected to significantly lower cash operating costs to between US$125 and US$135 per tonne (in 2020 real terms). Consequently, from 2021 the Group expects to be positioned in the first quartile of the industry revenue to cost (or margin) curve, supporting stronger free cash flow generation and providing for increased shareholder returns.
The WCP B dredge has now been safely relocated onto concrete plinths at its destination in Pilivili. The WCP is expected to begin its journey the week commencing 21st September 2020.