Kenmare Resources plc (“Kenmare” or “the Company”)
17 September 2020
WCP B Move Update: Dredge Relocated Safely to 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 the relocation of the dredge, which forms part of the Wet Concentrator Plant (“WCP”) B mining operation, has been completed safely.
Kenmare previously announced three development projects that together have the objective of increasing annual ilmenite production to 1.2 million tonnes (plus co-products) on a sustainable basis from 2021, with the move of WCP B to the high grade Pilivili ore zone being the final project. The increased production is expected to significantly lower cash operating costs to between US$125 and US$135 per tonne (in 2020 real terms). Consequently, from 2021 the Group expects to be positioned in the first quartile of the industry revenue to cost (or margin) curve, supporting stronger free cash flow generation and providing for increased shareholder returns.
The dredge was transported 23 kilometres (“km”) along a purpose-built road from its previous mining area at Namalope to a new high grade ore zone called Pilivili and has now been placed onto concrete plinths at its destination. The move was undertaken using platform vehicles called self-propelled modular transporters (“SPMTs”) by a specialist heavy lifting and transport contractor.
Following the successful relocation of the dredge, the SPMTs are returning to Namalope to transport the WCP along the same route. The WCP is expected to begin relocation next week. For more information on how the relocation is being undertaken, please view this animation.
Statement from Michael Carvill, Managing Director:
"Completing the relocation of WCP B’s dredge safely and within the expected timeframe is an important milestone for the project. The 23km purpose-built road performed well and we are confident in its ability to support the WCP in the coming days. We look forward to providing another update when the relocation and safe offloading of WCP B has been achieved.”
For further information, please contact:
Kenmare Resources plc
Jeremy Dibb / Katharine Sutton
Tel: +353 1 671 0411
Mob: + 353 87 943 0367 / + 353 87 663 0875
Murray (PR advisor)
Tel: +353 1 498 0300
Mob: +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.