Kenmare Resources project produces heavy mineral concentrate

Company aiming to increase production to 1.2 million tonnes per annum of ilmenite

Michael Carvill , managing director Kenmare Resources plc adressing last year’s AGM. Photograph: Bryan O’Brien / THE IRISH TIMES

Michael Carvill , managing director Kenmare Resources plc adressing last year’s AGM. Photograph: Bryan O’Brien / THE IRISH TIMES

 

Irish explorer Kenmare Resources has announced that a development project in Mozambique has produced its first heavy mineral concentrate.

The company, which operates the Moma Titanium Minerals Mine in northern Mozambique, is aiming to increase production to 1.2 million tonnes per annum of ilmenite from 2021.

Kenmare Resources managing director Michael Carvill said: “The construction of Wet Concentrator Plant C represents the last phase of our outlined mining capacity increase.

“Later this year we will move Wet Concentrator Plant B from Namalope to the high grade Pilivili ore zone, positioning us to achieve our targeted production rate of 1.2 million tonnes per annum of ilmenite from 2021.

“These projects are expected to enhance our margins, provide stronger cashflow stability and position us in the first quartile of the industry revenue to cost curve.

“Following the completion of our capital expenditure programme, we expect to generate significantly stronger free cash flow, which will enable us to provide higher returns to shareholders.”