(Alliance News) - Kenmare Resources PLC on Tuesday announced that the relocation of the wet concentrator plant B is underway.
The Mozambique-focused producer of titanium minerals and zircon said this is the final stage of a three stage project which has the objective of increasing annual ilmenite production to 1.2 million tonnes, as well as co-products, on a sustainable basis from 2021.
This is expected to yield "significantly" lower cash operating costs to between USD125 and USD135 per tonne.
The plany is being moved 23 kilometres from its previous mining area at Namalope to a new high grade ore zone called Pilivili.
Managing Director Michael Carvill said: "Once WCP B and the dredge reach Pilivili we will begin the process of re-establishing them in their new location and we expect mining to commence at Pilivili during the fourth quarter of 2020. I look forward to providing further updates as the project progresses.â€
Kenmare shares closed at 248.00 pence each on Tuesday in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kenmare Resources (KMR)