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Kenmare Resources Down Again After Mine Fire
LONDON (Alliance News) - Shares in Kenmare Resources PLC continued to fall Tuesday after it Monday said it had suspended operations in part of its titanium minerals Moma mine after a fire.
The company said the fire occurred in the trommels section of Wet Concentrator Plant A at the mine in Mozambique. No injuries were suffered as a result of the incident, the fire was extinguished and damage was contained to the trommels section of the plant.
The mine is still producing. Mining pond B is producing heavy mineral concentrate and there is a stockpile of about 96,000 tonnes of heavy mineral concentrate available for processing by the mineral separation plant into final products.
The company has sent operations director Jacob Deysel to Moma to oversee the investigation and check the damage.
The shares were down 4.5% at 21.25 pence Tuesday morning,
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
Copyright 2013 Alliance News Limited. All Rights Reserved.
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