Kenmare's Moma implementation agreement rights extended to 2044
Mozambique's Council of Ministers approves renewal, raising royalty from 1% to 3-5% and requiring $200 million investment plus $50 million social projects.
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Titanium and zircon mineral producer
kenmareresources.comLast updated
In short: Kenmare pursued Abu Dhabi takeover talks, cut guidance and posted a $34m loss as Moma agreement remained unconfirmed.
Mozambique's Council of Ministers approves renewal, raising royalty from 1% to 3-5% and requiring $200 million investment plus $50 million social projects.
The company lowers full-year production forecasts due to commissioning delays. Additionally, Kenmare is engaged in ongoing discussions with IRH regarding a potential cash offer.
The Board confirmed receipt of a potential cash offer. Discussions are ongoing with no certainty of a firm bid by the November deadline.
The company reports lower production and costs while negotiating an IA renewal. Zircon prices recovered, and WCP A upgrades continue in Mozambique.
SMM Titanium Flash] Kenmare Resources announced that Mozambique had approved renewal of key processing and export rights under Moma's Implementation Agreement until 2044. The Council...
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 (the "Mine...
The government has confirmed the formal closure of the dispute with Kenmare Resources, the concession holder for the Moma heavy mineral sands mine in Larde...
Kenmare Resources, the Dublin-listed titanium minerals miner, has lowered the full-year production forecast for its most important product as it continues takeover talks with a...
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