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Higher mineral sands prices underpin Kenmare’s strong interim performance

By: Simone Liedtke     20th August 2018 LSE-listed Kenmare Resources achieved strong financial results for the six months to June 30, with the titanium and zircon producer having generated $48.4-million in operating cash flow through the shipment of 589 t at increased prices. The miner further recorded a 37% increase in revenue, as a... 

Kenmare Q2 production in line with expectations, reduces debt

By: Simone Liedtke     17th July 2018 LSE-listed mineral sands producer Kenmare Resources produced 377 900 t of heavy mineral concentrate (HMC) in the second quarter ended June 30, a 5% increase on the 359 200 t produced in the first quarter of the year, in line with expectations. Ilmenite production for the second quarter was 238... 

Kenmare appoints new independent nonexec director

By: Marleny Arnoldi     26th June 2018 In line with LSE-listed Kenmare Resources’ aim of continually improving governance, it has appointed Clever Fonseca as an independent nonexecutive director, effective July 1.  

MMEC conference outlook indicative of state of mining industry

By: Melissa Zisengwe     8th June 2018 The increase in international participation at the sixth edition of the Mozambique Mining, Energy and Natural Gas Conference (MMEC) reflected the state of the Mozambique mining industry, which is an emerging market, says event organiser AME Trade. The conference was held in Maputo on April 25 and... 

Kenmare returns to profitability, achieves record production

By: Natasha Odendaal     14th March 2018 LSE-listed Kenmare Resources has made significant strides as it returned to profitability and delivered record production from its Moma titanium minerals mine, in northern Mozambique, during the year ended December 31. The titanium minerals and zircon producer on Wednesday reported robust... 

Kenmare meets yearly production guidance

By: Anine Kilian     11th January 2018 LSE-listed mineral sands miner Kenmare Resources has reported a record yearly production of ilmenite, rutile and zircon – achieving production guidance for all products. The company said in a statement on Thursday that it mined more than 33-million tonnes of ore in 2017, up 12% from the previous... 

Irish heavy mineral sands miner plans to expand its Mozambique operation

By: Keith Campbell     10th November 2017 The Mozambican newspaper “Notícias” has reported that heavy mineral sands miner Kenmare Moma Mining, a subsidiary of Irish company Kenmare Resources, was to undertake public consultations this month regarding the expansion of its operations. Kenmare owns and operates the Moma Titantium Minerals... 

Kenmare buoyed by ilmenite market improvement, record production potential

By: Ilan Solomons     11th October 2017 Production volumes decreased across the board at mineral sands miner Kenmare Resources’ Moma titanium minerals mine, in Mozambique, in the third quarter, with the exception of ilmenite. Nonetheless, production of total finished products increased by 4.5% year-on-year to 277 800 t in the third... 

Kenmare returns to H1 profit

By: Creamer Media Reporter      22nd August 2017 Increased shipments, higher average received prices and lower unit costs have contributed to a turnaround in mineral sands miner Kenmare Resources’ earnings before interest, taxes, depreciation and amortisation (Ebitda) in the six months to June 30. The miner, which operates the Moma mine, in... 

Kenmare lifts H1 output

By: Creamer Media Reporter      12th July 2017 Kenmare Resources delivered strong production from its Moma titanium minerals mine, in Mozambique, in the first half of this year, with all production metrics higher than in the first half of 2016. Heavy minerals concentrate production increased by 18% year-on-year to 712 700 t, while ilmenite... 

Moma kickstarts Q1 with double-digit production increases

By: Natasha Odendaal     13th April 2017 Output from the Moma titanium minerals mine, in northern Mozambique, during the first quarter of this year has set the pace for a targeted 5% to 16% year-on-year increase in full year production, London-listed Kenmare Resources said on Thursday. Double-digit year-on-year increases seen in... 

Kenmare swings to FY profit on the back of record production

By: Anine Kilian     22nd March 2017 London-listed Kenmare Resources recorded earnings before interest, taxes, depreciation and amortisation (Ebitda) of $5.2-million for the year ended December 31, a turnaround from the loss of $11.5-million recorded in the prior financial year. Heavy minerals concentrate production increased 28%... 

Kenmare achieves record output of titanium minerals in Mozambique

By: Keith Campbell     27th January 2017 Irish miner Kenmare Resources, which owns and operates the Moma Titianium Minerals Mine in the Nampula province of Mozambique, has reported that it achieved record production of ilmenite, rutile and zircon last year. Not only was 2016 a record year for production and shipments, but the last... 

Kenmare lifts FY17 production guidance as market looks positive

By: Megan van Wyngaardt     16th January 2017 LSE-listed Kenmare Resources on Monday adjusted its production guidance for this year to between 950 000 t and 1.05-million tonnes of ilmenite, 5% to 16% higher than production for 2016, owing to increased utilisation and recovery rates at its Moma titanium minerals mine, in Mozambique. The miner... 

Kenmare lifts guidance, reports Q3 records

By: Natasha Odendaal     13th October 2016 LSE-listed Kenmare Resources expects its Moma titanium minerals mine, in Mozambique, to deliver record full-year production levels at lower unit costs as it enters the final stretch of the year. During the third quarter to September 30, the operation achieved quarterly records mostly across the... 

Kenmare sees H1 revenue decrease

By: Anine Kilian     24th August 2016 LSE-listed Kenmare Resources’ half-year revenue fell 24% to $56.2-million for the six months ended June 30. In a statement released on Wednesday, the company attributed its revenue decrease to lower average heavy minerals prices, owing to pricing and subsequent contracts occurring at the bottom... 

Kenmare lifts H1 production

By: Natasha Odendaal     2nd August 2016 LSE-listed Kenmare Resources production surged in the first half of the year as power supply stabilised and recoveries increased, while improvement is being seen in the sulphate ilmenite market as supply/demand conditions continue to tighten. Kenmare on Tuesday posted considerable increases in... 

Kenmare able to proceed with capital restructuring

By: Anine Kilian     1st July 2016 Aim-listed Kenmare Resources announced on Friday that it had secured new equity commitments of $275-million, enabling the company to commence with capital restructuring and an open offer. This offer comprised $100-million in a cornerstone placing, $145.7-million cash commitments under a firm... 

Kenmare advances capital restructuring

By: Creamer Media Reporter      20th June 2016 The share price of LSE-listed mineral sands producer Kenmare Resources surged on Monday as the company announced it was making progress with its capital restructuring. As part of Kenmare’s aim to raise $275-million to $368-million in equity to reduce its debt, it has entered into a cornerstone... 

Titanium minerals production increasing at Moma

3rd June 2016 Titanium minerals and zircon producer Kenmare Resources expects mining output through 2016 at the Moma titanium minerals mine, in northern Mozambique, to benefit from a significantly more stable power supply. 

Power no longer major threat to Moma – Kenmare

By: Natasha Odendaal     29th April 2016 Power supply challenges that have affected production at the Moma titanium minerals mine, in northern Mozambique, have been eased considerably with visibly improved power quality and consistency since December, enabling a production surge during the first quarter of the year. Titanium minerals... 

Kenmare enters agreement for proposed $100m investment

28th April 2016 Mozambique-focused Kenmare Resources has entered into a conditional subscription and relationship agreement with chemicals trading company King Ally Holdings for a proposed $100-million investment in Kenmare. The proposed investment would be on the basis that King Ally would hold a maximum 29.9%... 

Mozambique heavy minerals operation in financial noose, but creditors not pulling yet

By: Keith Campbell     12th February 2016 Irish domiciled miner Kenmare Resources has technically been in default since January 31, the Mozambican News Agency AIM has reported. As a result, the company’s shares fell in value by almost 20% on February 1. Kenmore owns and operates the Moma Titantium Minerals Mine on Mozambique’s north east... 

Kenmare reports lower FY output on power supply challenges

By: Anine Kilian     1st February 2016 The share price of LSE-listed Kenmare Resources fell by as much as 26% on Monday morning, as the company announced lower output at its Moma mine, in Mozambique. The mineral sands miner produced 1.1-million tonnes of heavy mineral concentrate in 2015 – 15% less than the 1.29-million tonnes... 

Iluka drops bid for Kenmare

By: Esmarie Swanepoel     7th December 2015 After more than a year of negotiations, mineral sands miner Iluka on Monday announced that it had abandoned its takeover bid for Irish miner Kenmare Resources, as the target’s largest shareholder had indicated that it would not support the transaction. Iluka said that the interests held by the... 

Kenmare’s Moma mine lifts Q3 heavy minerals concentrate output

By: Natalie Greve     27th October 2015 Mineral sands production from Kenmare Resources’ Moma titanium minerals mine, in Mozambique, continued to increase in the third quarter ended September 30, as the mine resumed steady operations following the flood damage to the power lines and industrial action in the first half of the year, the... 

Kenmare expects improved H2 output, appoints new nonexec director

By: Natalie Greve     27th July 2015 Multicommodity play Kenmare Resources expects its production for the second half of the year to improve, as power utility Electricidade de Moçambique commissions equipment to increase grid power capacity and stability. Output at Kenmare’s Moma mine was “severely impacted” by 57 days of... 

Operations resume at Kenmare’s Moma mine

By: Megan van Wyngaardt     3rd July 2015 Mineral sands miner Kenmare Resources on Friday reported that operations at its Moma mine, in Mozambique, had restarted, following a temporary suspension owing to extralegal industrial action. All employees had returned to work after embarking on the industrial action in response to cost-cutting... 

Moma ops halted amid strike

By: Creamer Media Reporter      24th June 2015 Mineral sands miner Kenmare Resources has temporarily suspended operations at its Moma mine, in Mozambique, after a group of employees embarked on industrial action. The industrial action was in response to cost-cutting measures, including retrenchments, being implemented by the company. 

Floods, power outages curb Moma output

By: Megan van Wyngaardt     30th April 2015 Amid difficult operating conditions associated with power outages and floods during the quarter ended March 31, Mozambique-based mineral sand miner Kenmare Resources mined 3.21-million tonnes of ore at a grade of 5.85% and produced 144 500 t of heavy minerals concentrate (HMC) at its Moma mine.... 

Iluka proposes lower takeover offer for Kenmare

By: Megan van Wyngaardt     30th April 2015 London-listed Kenmare Resources has received a revised, nonbinding proposal from Australian mineral sands miner Iluka Resources regarding the proposed buyout of the Irish miner. In its latest proposal, Iluka offered Kenmare shareholders 0.016 Iluka shares for each Kenmare share. 

Kenmare sends South African workforce home

By: Megan van Wyngaardt     20th April 2015 Titanium minerals producer Kenmare Resources has temporarily repatriated the South African members of the workforce at its Moma mine, in Mozambique. The company said in a statement on Monday that this was a precautionary measure, owing to unrest and attacks against foreign nationals working in... 

Kenmare, lenders agree to extend budget delivery date

31st March 2015 Titanium minerals producer Kenmare Resources has extended the date for delivery of a budget to April 30. The company on Tuesday said its project lenders and banking firm Absa have made “substantial progress” towards agreeing the prinicipal terms of a further financing amendement for the company’s... 

Substantial cost-cutting programme implemented

13th March 2015 Ongoing cost-cutting efforts at mineral sands producer Kenmare Resources’ Moma titanium minerals mine, in northern Mozambique, could result in a 15% to 20% reduction of the mine’s workforce, the company says. Through its substantial cost-cutting programme Kenmare has achieved a decline in unit... 

Indian group recommits to Mozambique as Irish miner restructures

By: Keith Campbell     13th March 2015 Private-sector Indian group Jindal will remain in Mozambique, even though the international price of coal has fallen significantly. This assurance has been given by Jindal Africa Director General Chandra Singh. “It is good that there is an awareness of the difficulties through which the... 

Kenmare works to restore Moma mine power after floods

By: Natasha Odendaal     11th March 2015 LSE-quoted Kenmare Resources is working to restore full power to its Moma titanium minerals mine, in northern Mozambique, after floods damaged the power line supplying grid power. The titanium minerals producer said it was operating diesel generators to continue processing heavy minerals... 

Kenmare to cut Moma staff

17th February 2015 Mozambique-focused mineral sands miner Kenmare Resources plans to reduce the number of employees at its Moma mine by between 15% and 20% as part of its cost cutting programme. The company noted in a statement on Tuesday that, although it had worked to reduce unit costs and conserve cash, these... 

Iluka continues Kenmare takeover talks

By: Esmarie Swanepoel     9th January 2015 Australian mineral sands miner Iluka Resources has confirmed that it was still in discussions with London-listed Kenmare Resources regarding a possible takeover. Kenmare earlier this week reported that Iluka had continued with its technical and non-technical due diligence over the company, in... 

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