RE: License update23 Dec 2025 05:02
Kenmare Resources (Moma Mine) Licensing
As of late 2025, Kenmare Resources plc is in critical negotiations with the Mozambican government regarding its primary operational license.
Implementation Agreement: This license governs the fiscal and export terms for the Moma Mine. It technically expired on December 21, 2024, but was extended by the Ministry of Industry and Commerce to remain in effect while negotiations continue.
Arbitration Risk: In October 2025, Kenmare's Managing Director, Tom Hickey, stated the company might resort to international arbitration if a final agreement is not reached soon.
Core Disputes: The delay involves proposed increases in turnover taxes (from 1% to 2.5%) and royalties, as well as terms for the 20-year extension period.
Operational Status: Despite the licensing delay, day-to-day mining operations continue, as the Implementation Agreement primarily affects export and fiscal frameworks rather than the physical mining concession.