Kenmare Resources Plc · LSE:KMR
Kenmare Resources — Shareholder Meeting (May 2008)
24 slides from Kenmare Resources's shareholder meeting presentation, May 9, 2008
Slide 1: Moma Titanium Minerals Project
Moma Titanium Minerals Project Michael Carvill Kenmare Annual General Meeting 9th May 2008
Slide 2: Overview of Kenmare Moma Mine
Overview of Kenmare Moma Mine Export
Slide 3: Time Line for Handover of Mine
Time Line for Handover of Mine MSP 1st Shipment Handover Roaster Scheduled Dredgers & WCP Barge Sheduled Handover Handover Handover Handover Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jun 2007 2008
Slide 4: So We Started Dredging… Dredged over 5 Million Tonnes To Date
So We Started Dredging… Dredged over 5 Million Tonnes To Date
Slide 5: Wet Concentrator Working Well…
Wet Concentrator Working Well…
Slide 6: Mineral Separation Plant
Mineral Separation Plant .
Slide 7: Finished Product Storage and Export
Finished Product Storage E x po r t a i t i ng 18 ,0 0 0t Aw
Slide 8: Loaded 7 Ships To Date
Bronagh J Operating Well Loaded 7 Ships To Date
Slide 9: Loaded 7 Ships To Date
Sheltered deep water off Caldeira Island Loaded 7 Ships To Date
Slide 10: Bronagh J Offloading to Customer Ship
Bronagh J Offloading to Customer Ship
Slide 11: Safety Statistics
Safety Statistics YEAR 2007 Man-hours worked 684,508 Lost time Injuries (LTI) 0 LTIFR 0 Malaria Cases 342 Reportable environmental incidents 0 Minor injuries 39
Slide 12: Environmental Review
Environmental Review 2003, the Design and Framework EMP was approved by MICOA 2005 revised to focus on Construction Activities, approved by MICOA 2007 revised to focus on Operational activities, approved by MICOA Internal and External Audits confirm environmental impact minimised and in line wit
Slide 13: KMAD: Achievements and Outlook
KMAD: Achievements and Outlook Achievements Outlook Created a wide range of New projects development projects - Sewing project Used benefits of the mine to - Broiler project (Abattoir) - Fishery create secondary economic Improve impact and create opportunities within local institutions withi
Slide 14: But It Has Not Been Easy…
But It Has Not Been Easy… Fixed Price Contract MULTIPLEX Technical Issues ol ved e B e e n Res es H a v Iss u Most
Slide 15: Faulty Screens Limit Current Production
Faulty Screens Limit Current Production 40 t p h le d : 1 e ns I nstal n ed Scre si g ew , Rede N
Slide 16: Ilmenite Production Forecast 2008
Ilmenite Production Forecast 2008 80.0 70.0 Actual 60.0 Plan 2008 000s t/month 50.0 40.0 30.0 20.0 10.0 - Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 07 07 07 07 07 08 08 08 08 08 08 08 08 08 08 08 08
Slide 17: Zircon Production Forecast 2008
Zircon Production Forecast 2008 6.0 5.0 2008 Plan 4.0 000s t/month 3.0 2.0 1.0 - Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 08 08 08 08 08 08 08 08 08 08 08 08
Slide 18: Current Market - Pigment
Current Market - Pigment Global Growth in 2007 of 3% to 3.5% Indian & Russian Pigment Growth Accelerating IBMA Forecast 3.2% CAGR Pigment Growth to 2015 3 Price Increases in Past 6 Months
Slide 19: Current Market – TiO2 Feedstocks
Current Market – TiO2 Feedstocks All TiO2 Feedstocks Were in Deficit in 2007 SP Ilmenite Price Increased by at Least 10% in 2007 SP Ilmenite for China ~ US$130 P/t FOB Reduced SP Ilmenite Supply - Sustained Upward Price Pressure Strong Demand for CP Ilmenite from Dupont and Ilmenite Upgraders
Slide 20: Current Market – Zircon Market
Current Market – Zircon Market Zircon Is Entering a Period of More Balanced Supply/demand –Moderate Surplus Expected in 2008 Kalimantan Entered the Market Late in 2006 -Artisan Mining of Tailings – Uncertainty Over Sustainability Zircon Demand Growth Outlook Remains Strong – 4.3% CAGR to 2015
Slide 21: Update on Nataka Resource
Update on Nataka Resource Recent mineralogy testing has shown that part of the Nataka resource contains high-Ti ilmenite (above 55% TiO2).
Slide 22: Expansion Rationale
Expansion Rationale Kenmare Moma Product Pre-Sales at Fixed Price Need Additional Production to Sell at Increased Price Vast Reserve Available Reduce Cost per Tonne – Eliminate One Drying Stage Maximize Utilization of Existing Assets
Slide 23: Expansion Plan
Expansion Plan Operate Both Dredges At Nameplate Capacity – 2,500tph Modify WCP – Spirals Reconfigured Build WHIMS Circuit – Separate Non-mags. Before Drying Testwork Underway in Australia
Slide 24: The Way Forward…
The Way Forward… One of the Largest Titanium Deposits in the World Bottom of Production Cost Curve In Production Significant Co-product Revenue Substantial Additional Resources First Expansion in Detailed Design