Business
WCP B Move Update: Plant Relocated Safely to Pi...
WCP B Move Update: Plant Relocated Safely to Pi....
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n \n \n WCP B Move Update: Plant Relocated Safely to Pilivili\n \n \n \n \n Kenmare Resources plc (“Kenmare” or “the Company”)\n \n 28 September 2020\n \n WCP B Move Update: Plant Relocated Safely to Pilivili\n \n 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 Wet Concentrator Plant (“WCP”) B has been relocated safely to Pilivili.\n 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. The move of WCP B to the high grade Pilivili ore zone is the final of the three projects. This 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.\n WCP B and its dredge were moved 23 kilometres from their previous mining area at Namalope to Pilivili. The move was undertaken in two stages, with the dredge moved first, followed by WCP B. They were transported along a 66 metre wide, purpose-built road using platform vehicles called self-propelled modular transporters (“SPMTs”) by specialist heavy lifting and transport contractor Mammoet. The other key contractors for the project include Hatch, Teichmann and Binvic. This is the only move of this type expected to be required during WCP B’s economic life.\n Photographs of the move are available on Kenmare’s website and on the Company’s Facebook, LinkedIn or Twitter feeds, and this animation provides further information on how the move was undertaken.\n WCP B and its dredge are now positioned safely on plinths in Pilivili and the next stage is to float them across the Mualadi river and into the starter pond. The establishment of associated infrastructure is continuing and heavy mineral concentrate production from WCP B is expected to begin in mid-Q4 2020. Kenmare will provide a further update on WCP B in its Q3 production update, which is anticipated to be announced in mid-October.\n WCP...