Kenmare Resources Wcp B Move Update: Dredge Relocated Safely To Pilivili
17 September 2020 - 4:00PM
UK Regulatory
TIDMKMR
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
https://www.globenewswire.com/Tracker?data=aCZYZzLT5Eh_rTVEOrqmUree6G-tr9oGFNZNzM-ldneZqnkXKw_PUxy6nR4ErUNF-7i2jCeSaSkOSfgZPym8ag==
animation.
Kenmare is updating its
https://www.globenewswire.com/Tracker?data=GSRlmJl-XsDtLA3etOwf7ZonmRs3B071AkGMNPO6nDKo497zmsRV-7zYJiKRBu7TEGkwQI2AOTfQv4Ryvh2Fy5zAeGGnO8L17w7pTAoiT_DzKdcUj_8jMajFon_UIlu6
website and
https://www.globenewswire.com/Tracker?data=FEdTemlilSb2NEHJmsNhO9PZ5YXu_cS9IlJPyA_0SoYl8pl-l4ddyfKiFpqxwoaSK5SUOo7MY81exDTWkAhGg4bKU2UDtPaxTvCMUzcDS2M=
Facebook,
https://www.globenewswire.com/Tracker?data=NG_wGrFz0V8FzK9ln6fh_sunJNQqDYSptKfbQ_wBQjRUg3reyu6eQTTNAEtqLI2DpdpThvrnNMdT62DJ8l6xvO5cmiBo6g_tVeX1Et1_4B_h_QGPzITv3-NsC0Ty8eRb
LinkedIn or
https://www.globenewswire.com/Tracker?data=ee9XG7XFis0blAJ4YYbTGLH78K4ioxz1QA42x0Mr__S7RkodFXViFsfO6SvTXSnesdnXftmFVjdTvs0xa_4o1A==
Twitter feeds with photographs and videos throughout the move.
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
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 17, 2020 02:00 ET (06:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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