Base Resources Limited (AIM:BSE, ASX:BSE) said prices for minerals sands metals rutile and ilmenite were largely steady in the first three months of 2023, though zircon fell slightly.
“Renewed optimism in China and resilience in Europe are supporting a positive price outlook for coming quarters,” said the latest quarterly statement from the miner.
Revenues per tonne in the three months to March dropped slightly to US$637 from US$651t three months earlier and US$740t a year ago.
Costs rose to US$195t from US$191t in the previous quarter.
Production was also lower compared to a year earlier at 71,600t of ilmenite, 16,600t of rutile and 6,400t of zircon.
Mining commenced on the North Dune, extending the mine life of Kwale operations in Kenya, with exploration ongoing at Kwale East, said Base.
Discussions with the government of Madagascar on Toliara Project fiscal terms continued to progress positively, it added.
Production guidance for 2023 remains unchanged at rutile 62,000 to 73,000 tonnes, ilmenite 266-310,000t and zircon 22-27,000t.