Business Irish

Tuesday 28 February 2017

Kenmare's output increases by 31pc

MINING

Kenmare Resources said production of heavy mineral concentrate increased by 31pc to 297,000 tonnes in the third-quarter.

Over the same period, the company's mineral separation plant produced 206,000 tonnes of ilmenite, a 22pc increase on the second quarter's production. Zircon output was 11,000 tonnes, a 25pc increase, and 2,000 tonnes of rutile was produced, a 158pc increase.

Petroceltic begins drilling in Algeria

OIL

Petroceltic, an Irish oil and gas exploration and production company focused on the Middle East, North Africa and the Mediterranean, said it began appraisal drilling operations in the Isarene area in Algeria. Four wells will be drilled as part of a two-year appraisal extension programme.

GM hikes shares in its stock listing

CARS

GENERAL Motors yesterday announced a hike in the number of shares in its stock listing, which puts the US car maker on track to rebound from bankruptcy with the biggest public share offering in US history. The largest US car maker said it would sell 478 million shares instead of the 365 million previously announced due to strong interest.

Air France-KLM raise full-year target

Aviation

AIR France-KLM Group, Europe's biggest airline, posted a second straight quarterly profit and raised its earnings target for the full year as a surge in Asian traffic helped extend a rebound from last year's recession. Airlines worldwide are reporting a surge in earnings as they emerge from the worst slump in decades.

Irish Independent

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