Base Resources Limited (ASX:BSE, AIM:BSE.L), an Australia-based mineral sands producer and developer focused on Africa, operates the Kwale Operations in Kenya, which produces rutile, ilmenite and zircon from a high-grade ore body using hydraulic mining and mineral separation processes; the company wholly owns the Toliara Project in Madagascar, a large-scale development-stage deposit rich in ilmenite, rutile, zircon and monazite with ore reserves supporting a 38-year mine life; and leads the development of additional heavy mineral sands assets including the Bahia Project in Brazil and a joint venture for up to 49% interest in the Donald Project in Australia containing ilmenite, leucoxene, rutile, zircon, monazite and xenotime. Kwale Operations, which commenced production in late 2013, transitioned through Central Dune, South Dune and North Dune orebodies and approaches the end of mining in late 2024 with depleted ore reserves, planning a shift to post-mining activities. The company's mineral sands products serve industrial applications including pigments for paints, paper and plastics, titanium metal production and ceramics, with exports handled through dedicated port facilities. Founded in 2007 and headquartered in West Perth, Western Australia, Base Resources was formerly known as Base Iron Limited until its name change in 2010. In October 2024, Energy Fuels Inc. completed the acquisition of Base Resources for approximately $178 million in shares, integrating its assets including the Toliara Project to expand rare earth elements, titanium and zirconium production; subsequently, the Madagascar government lifted a development suspension on Toliara imposed since 2019, advancing the project's progression.