Kenmare Resources Wcp B Move Update
15 September 2020 - 4:00PM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
15 September 2020
WCP B Move Update
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 Wet Concentrator Plant ("WCP") B, is underway.
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.
WCP B is being moved 23 kilometres from its previous mining area at
Namalope to a new high grade ore zone called Pilivili. It is being
transported along a purpose-built road using platform vehicles called
self-propelled modular transporters ("SPMTs"). The relocation of WCP B
and its dredge are being undertaken by a global specialist heavy lifting
and transport contractor. For more information on how the relocation is
being undertaken, please view this animation
https://www.globenewswire.com/Tracker?data=zcqGCbFmqxBkmuWi7zm9tDhD_YbZwJ6c2C0Ht6HUHHjUVV33JurokLGH-Ou1Tqv4pgKvn8BaysMSZtcLVwCWGQ==
.
Mining at Namalope completed in late August. The WCP and its associated
dredge have now been successfully placed on the concrete plinths in the
relocation pond and the pond has been dewatered. The dredge and the WCP
are to be moved in two stages. The first stage involves the movement of
the dredge, this is now underway and expected to be completed this week.
Once the dredge has been relocated to Pilivili, the SPMTs will return to
Namalope to transport the WCP along the same route. The physical
relocation is expected to be completed in the next few weeks.
Mozambican media are coming to site today and photographs and videos of
the initial stages of the relocation of the dredge are available on
Kenmare's website
https://www.globenewswire.com/Tracker?data=Zma_HSRlG80XINvcjvStOmfqsCpcXzEXQDvsjHBT4EkL7hWzRfxfM1xeEBxz2yIzA6SObnZhik6H1dP0L4E1DDw3MEbjfX0Bw5ennKtKyMmh2mwsCiKH4HMiyNgUM65p
. Kenmare will update its website and Facebook
https://www.globenewswire.com/Tracker?data=JA710V4nwMDqrT4XVwu0XZRiWA32uJJwlTimYdC2TMh7NbrNU5iDqqMudiPJJihjEepoQTo4vCo67g4rSXzpc0eyHnihAsWutgOfq4sDL4s=
, LinkedIn
https://www.globenewswire.com/Tracker?data=EScK9SL_9G1s9h1stdQpSW9LtqqWXHIbJYs2tS2n0X-d5PLBSa3rQeYsG8GqRzYiPmZYNBCXg30QeDXvbRKQC-wfHmJIGdWEoTY3s7JC88ObuADwXnSzadaFPf4REFPs
and Twitter
https://www.globenewswire.com/Tracker?data=OtiZEuxdl1D4-C1uAr86_l1w-H4lDcJ0OcN89gpXuTILQGTPZv1swoINM_AUYmv2TewSKM0Ecg9GRs1dDWw7vQ==
feeds with photographs and videos throughout the move.
Statement from Michael Carvill, Managing Director:
"The relocation of WCP B and its dredge form the third and final project
of our development programme to increase Moma's ilmenite production to
1.2 million tonnes per annum on a sustainable basis. Once WCP B and the
dredge reach Pilivili we will begin the process of re-establishing them
in their new location and we expect mining to commence at Pilivili
during Q4 2020. I look forward to providing further updates as the
project progresses."
For further information, please contact:
Kenmare Resources plc
Jeremy Dibb / Katharine Sutton
Investor Relations
Tel: +353 1 671 0411
Mob: + 353 87 943 0367 / + 353 87 663 0875
Murray (PR advisor)
Joe Heron
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.
(END) Dow Jones Newswires
September 15, 2020 02:00 ET (06:00 GMT)
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