#BaseTitanium Introducing Base Titanium Base Titanium Limited is a wholly-owned subsidiary of Australian and UK-listed resources company, Base Resources Limited (ASX and AIM: BSE). Its flagship development is the Kwale Mineral Sands Project in Kwale County, 50km south of Mombasa. Construction at the Kwale Project was completed at the end of 2013 and the first bulk shipment of ilmenite departed from Mombasa in February 2014. Regular shipping of three distinct product streams produced from the Kwale Project’s high-value, heavy-mineral assemblage has now been established. Going forward, it will produce 330,000 tonnes of ilmenite; 80,000 tonnes, or 14% of the world’s rutile output; and 30,000 tonnes of zircon each year over a 13-year mine-life. In the process, the Kwale Project is significantly boosting revenue for the Government of Kenya and Kwale County and is set to deliver approximately $225 million in tax and royalty payments over the life of the mine, together with considerable indirect taxation benefits. Already the Project is creating significant opportunities for local economic development – through a focused local employment programme, and the procurement of goods and services from local vendors. Now that production has commenced, the Company is investing heavily in community and social infrastructure in Kwale County, demonstrating its commitment to responsible and sustainable development. Representing the first major, foreign direct investment in Kenya’s mining sector, Base Titanium is cognizant of its role in setting national benchmarks that are compliant with globally accepted standards in transparency, governance, safety, environmental management and community investment. Importantly, Base Titanium aims to be a truly Kenyan mining company, and continues to work constructively with the Government of Kenya to facilitate Kenyan equity participation in the Kwale Project – the country’s first major mining venture. Mining - The Key to Unlocking Kenyas Economic Potential The extractives sector offers Kenya the highest immediate growth potential, and its development will contribute significantly to driving economic growth, not only in mining, oil and gas, but also in support sectors such as transport, energy, construction, and finance. As an emerging industry, the mining sector is fragile and needs to be supported by an enabling regulatory environment in order to grow, stabilise and generate sustainable revenues for the Government, as well as to deliver local economic development for counties and communities. Base Titanium continues to invest considerable effort internationally to enhance the perception of Kenya’s mining potential, by reiterating the support the Company has received to-date and Government’s commitment to maintaining the rule of law and enforceability of contracts. Supporting the Development of Kenyas Emerging Mining Sector - The Kwale Project is seen as a flagship project in line with Vision 2030 - and, if successful, will serve as a catalyst to attract further investment in Kenya. - Sustainability is core to our business. We adhere to the IFC Performance Standards in relation to the environmental and social impacts of our activities, ILO standards in relation to employment and the United Nation’s Voluntary Principles on Human Rights and Security. - We are signatories to the Extractive Industries Transparency Initiative - a global initiative to ensure transparency in payments between resources companies and their host governments. - The Kwale Project is expected to contribute around $225 million to the Government of Kenya in direct tax and royalty payments over the 13 year life of the mine, in addition to considerable indirect taxation benefits. - The Company’s success will be measured not just by its performance as a miner but also by its role as a catalyst for national development. Base Titanium is investing heavily in infrastructure development, including investment of Kshs 5 billion in a port facility at Likoni, a dam, power line and roads – all constructed to international standards. - Base Titanium adheres to a transparent and equitable employment system and is committed to local, quality job creation. We place great emphasis on training and knowledge transfer to upgrade skills in the community for the future benefit of Kenya’s mining industry. basetitanium/
Posted on: Tue, 21 Oct 2014 09:52:31 +0000
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