KMR Kenmare Resources Plc

 
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)

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