Base Titanium operations in Kwale County. FILE PHOTO | NMG
Base Titanium, which is mining titanium minerals in Kwale County, more than doubled its sales to Sh7.7 billion in the quarter ended December on the back of increased exports.
The company reported a turnover of Sh3.8 billion in the same period a year earlier.
The performance was driven by the volume of exports which also more than doubled to 147,800 tonnes from 72,200 tonnes.
Production increased by a modest 5.2 percent to 108,800 tonnes from 103,400 tonnes, with the company sometimes delaying or accelerating exports in response to demand and prices for the commodity in the international markets.
The titanium minerals – rutile, ilmenite and zircon— were sold at an average price of $459 (Sh52,142) per tonne in the quarter under review. This was slightly lower from $464 (Sh52,710) the year before.
“Despite uncertainties in China relating to power cuts, environmental controls and Covid management policies, the titanium oxide pigment industry and the main zircon-user sectors (including ceramics) in China remained strong through the December quarter,” the miner’s parent firm Base Resources said in a trading update.
“End user sectors for the company’s products in all other markets continued to strengthen through the quarter. Further price increases for titanium oxide pigment have been announced globally for early 2022.”
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