Last checked at 26 Oct 2020 07:00
Commencement of production at PiliviliKenmare Resources plc (“Kenmare” or “the Company”)
26 October 2020
Commencement of production at Pilivili
Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine in northern Mozambique, is pleased to announce that Wet Concentrator Plant (“WCP”) B has commenced production at Pilivili.
Statement from Michael Carvill, Managing Director:
“I’m pleased to announce that we have begun production at Pilivili, ahead of our target of the middle of the quarter. The move of Wet Concentrator Plant B represents the final stage of our growth programme and we are well-positioned to produce 1.2 million tonnes per annum of ilmenite from 2021. This is expected to deliver expanded margins and increased free cash flow generation, with the opportunity for stronger shareholder returns.”
WCP B and its dredge were relocated 23 kilometres from their previous mining location of Namalope to the high grade Pilivili ore zone. Following the move, the plant and dredge were floated across the Mualadi river and into the starter pond. Mining was previously targeted for mid-Q3 2020 but has now commenced ahead of schedule.
Photographs of the move are available on Kenmare’s website and on the Company’s Facebook, LinkedIn or Twitter feeds, and this animation provides further information on how the move was undertaken.
For further information, please contact: Kenmare Resources plcJeremy Dibb / Katharine SuttonInvestor RelationsTel: +353 1 671 0411Mob: + 353 87 943 0367 / + 353 87 663 0875
Murray (PR advisor)Joe Heron Tel: +353 1 498 0300Mob: +353 87 690 9735
About Kenmare Resources
Kenmare Resources plc is one of the world’s largest producers of mineral sands products. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 7% of global titanium feedstocks and the Company supplies to customers operating in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday “quality-of life” items such as paints, plastics and ceramic tiles.