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.
