Base Resources Limited (LON:BSE, ASX:BSE) said its Kwale operations in Kenya exceeded expectations in the first full year of mining in the South Dune.
In a statement released on the day of the company’s annual general meeting, chairman Keith Spence noted that the Kwale operations remained at full-pelt and met shipping schedules throughout the fiscal year despite the problems posed by the coronavirus pandemic.
Spence said the company remains focused on extending the life of the Kwale mine. A number of mine life extension and near-mine exploration options continue to be pursued and a pre-feasibility study on mining the North Dune deposit was commenced in January 2020.
The African mineral sands producer added that good progress is being made with its world-class Toliara development project in Madagascar.
The company is committed to the development of the project and remains confident that a positive outcome on the fiscal terms of the project can be achieved.