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Titanium minerals and zircon producer Kenmare Resources raised its dividend after reporting a sharp rise in profit thanks to 'significant increases in production and sales volumes.'
For the six month period ended 30 June 2021, pre-tax profit jumped 216% to $50.6 million as revenue increased 53% to $178.2 million.
The interim dividend was raised by 217% to 7.29 cents.
'We remain confident in the outlook for annual production and re-iterate our guidance of 1.1-1.2 million tonnes of ilmenite in 2021,' the company said.
'The outlook for zircon has also continued to improve, with price increases during the half and continuing into H2 2021 to date,' it added.