Business
Project Update
Project Update.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n\n \n \n\n Project Update\n\nKenmare Resources plc (“Kenmare” or “the Company”) 4 July 2024 Project 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 (the \"Mine\" or \"Moma\") in northern Mozambique, is pleased to provide a project update for the Wet Concentrator Plant (“WCP”) A upgrade and transition to the Nataka ore zone. Statement from Michael Carvill, Managing Director: “The Board has approved the final part of the Definitive Feasibility Study for the WCP A upgrade and transition to the Nataka ore zone, relating to the infrastructure. The total capital costs for the project remain in line with previous estimates. On-going detailed engineering and scheduling work has resulted in lower expected capital expenditure in 2024. Works are advancing well for the upgrade, with the fabrication of the two new dredges and the upfront desliming circuit making encouraging progress. Nataka represents over 70% of Moma’s Mineral Resources and unlocking this ore zone secures production for decades to come, whilst maintaining Kenmare’s first quartile position on the industry revenue to cost curve.” Overview Nataka is the largest ore zone in Kenmare’s portfolio, containing 6.4 billion tonnes of Moma’s 9.0 billion tonnes of Mineral Resources. WCP A is the largest of Kenmare’s three mining plants, representing approximately 50% of total mining capacity. WCP A will begin its transition from its current mine path in Namalope, where it has mined for 17 years, to Nataka in late 2025. This is the only move of this kind that is required in WCP A’s economic life, which is expected to extend beyond the existing mine plan that runs to 2045. Kenmare’s Board approved the initial three parts of WCP A’s Definitive Feasibility Study (“DFS”) in 2023, while the DFS relating to infrastructure was completed in Q2 2024. The Infrastructure DFS addresses four key elements: Electricity supply – including a new 110kV overhead powerline from the Mineral Separation Plant (“MSP”) to the Nataka substationPumping and piping – allowing for transportation of slimes from WCP A to the primary densification paddock and ultimately the Tailings Storage Facility (“TSF”), as well as distributing waterHeavy Mineral Concentrate (“HMC”) handling – including a new terrac...