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Base slightly increases Kwale production expectations

MINERAL sands miner Base Resources has increased its production expectations for the year ahead on the back of increased mining volumes and recoveries at its Kwale operation in Kenya.

 Base beating previous targets at Kwale, Kenya

Base beating previous targets at Kwale, Kenya

Using the midpoint of new guidance ranges reported by Base, Kwale's rutile output could increase circa-16%, while ilmenite and zircon outputs could rise nearly 4% and 15% respectively.

The increases come on the back of mining volumes going from 18 million tonnes to 18.7Mt and recoveries moving from 99% to 102% for rutile, 100% to 101% for ilmenite, and 77% to 85% for zircon.

Base moved to its current mining area at Kwale's South Dune in mid-2019 after depleting the Central Dune orebody that underpinned the project's development.

Meanwhile, Base said last month it was concentrating on offtake and funding arrangements ahead of a formal investment decision by September for its big ticket Toliara prospect in Madagascar.

Shares in Base were unchanged at 22.5c in morning trade, capitalising the company at $264 million.

The stock has spent much of the past three years trading between 20c and 30c.

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