Base Resources was founded in 2008 to enrich our people, our communities in which we operate and our shareholders through the creative development of mineral resources.

The Company acquired the Kwale Mineral Sands Project in 2010. Construction at Kwale commenced in 2011 and mining started on the Central Dune in October 2013, with the first shipment of product out of the Company’s dedicated Likoni port facility in February 2014.  In 2018, Kwale Operations completed an expansion to increase mining and concentrating rates in anticipation of moving to the lower grade orebodies from mid-2019.   Kwale Operations is now planning its transition to post-mining as Ore Reserves are expected to be fully depleted by the end of 2024.

In January 2018, Base Resources acquired the Toliara Project in Madagascar, which is considered one of the best undeveloped mineral sands opportunities in the world.  An initial definitive feasibility study was completed in 2019, and an updated definitive feasibility study completed in 2021, increasing the project’s scale and economics.  As part of the greater Toliara Rare Earths study program, the Toliara Monazite pre-feasibility study was completed in late 2023,  doubling the Projects NPV and confirming the economic potential of the monazite contained with the Mineral Resources estimate.  The Company is currently progressing the project towards development.

Timeline

2008

Base Iron is listed on the ASX as an iron ore exploration company

2010

The Company changes its name to Base Resources and acquires the Kwale Mineral Sands Project in Kenya as a development project

2011

Base Resources completes a feasibility study on the Kwale Project and commences construction

2013

Kwale Operations commence in December 2013

2013

The Company lists on AIM

2014

First shipment of product from Kwale Operations

2018

Base Resources acquires the Toliara Project

2019

Kwale Operations mining on South Dune and the Toliara Project Definitive Feasibility Study is completed

2020

Base Resources pays a maiden dividend

2021

The Toliara Project DFS is enhanced to increase scale and economics

2022

Inaugural Sustainability Report released

2023

Toliara Rare Earth Concept Study confirms the significant economic potential of Toliara's monazite

2023

Kwale Operations mining commences on the North Dune

2023

Toliara Monazite PFS doubles Project NPV to US$2.0 billion.