KMR Kenmare Resources Plc

 
TIDMKMR 
 
 
   Kenmare Resources plc ("Kenmare" or "the Company") 
 
   28 September 2020 
 
   WCP B Move Update: Plant 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 Wet Concentrator Plant ("WCP") B has been relocated safely to 
Pilivili. 
 
   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. 
 
   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. 
 
   Photographs of the move are available on Kenmare's 
https://www.globenewswire.com/Tracker?data=-9uQ7l-ed5J3JON5GpJTcrQfpGUq0AJnjZvB3Cr3-t33joIgo3IIuGPtspSDh5NVnyWk6v5niVDdKJMaInfoEbuXLw8SHB54fZuhXxfI5Kntod-G4jOvICO6Yq1ygN_neTSR9v-DHMA5z8EYi1PKNcSxlOcjigUaMF6iEtrP6NifWt41fhGSzZRQduLAAhWEgScpEY0hlLh5MEKx9qrHNoX1jY_6W0jeQRbkemRtdptJbASsVCZ6dniPZuYPl4zbAaSG4D0iu1YoP_5BV6dB_Q== 
website and on the Company's 
https://www.globenewswire.com/Tracker?data=lov5GSjASUu_kuvbAlBmPNSLHmRd5ugpx7VHPiHaXgLOrGfkYzC4KOduW210-kSxcPWGJJo21ySrYJoHvNLYlFO0aKTu48eQ-il_r9KdFU-Y9gCQqHHNzvD1fy_XqYPEE4jISKAcZxgRdFSv7sjd6Rp64vgBvqA07OP8hOArKlevQDd4_Lx79wuM-hU85aySPSxajeyzVbNcibssBosQ_5jo0cyttJJh6GRN5DenIpwV16zjM0qLIady0fZO4dah 
Facebook, 
https://www.globenewswire.com/Tracker?data=8dDCvHdOVd8wGsOhMvWAMDR4ozSJyUYd1vlSXNu8aqI7WND14sjf-5TIQsQQo-wERINhQLui-7ANO8Lb53k9wPttE2YDGzAwhun1EsAbxM_fmJxiYJVUrEU5FR0ojXJYkgN5MXfs1a1_nKzu8LGkdbBg2GbQUsuusBxjUgcnfHnzWT_CDImiNfMAArXlVtj0Q4wEDUWTG7FrV3_BdMe9XPfsCwzrNYzAKsT3jmmRFGKQSgIBV1bnPrXDItIpDqUzYkOZVLMMcR7KZ9lTQ_X2OQ== 
LinkedIn or 
https://www.globenewswire.com/Tracker?data=BnxAmcq8To4KGEpLE1k6ACHMxfcipw7nCaozLWCq9MPwMhkJ60Rk5Cva8FTfNAQ8yJ7TpHJQ8IXHKtVPbUsNugZvDpV4EAijJiNUPGXFZojaFbEY4UplS4MItlofud95VXNOu99tLB5WwUimQFeI3iBSzqYLhH1btGtj2DUMamOBKKfMVG_tj-odDga41oaT--BQEs1G4XMGxWTT8wP7lCVuCu1f-85GtIK7eDl1SIM= 
Twitter feeds, and this 
https://www.globenewswire.com/Tracker?data=aWvnR0Nfh4lgUwfVUe38cH7gYVdQKo6rGg-EzeI5rE4LVsb6mnwJwrkiFcmgJKa9Gh0piLlVsHj9AYlyWSdMPg== 
animation provides further information on how the move was undertaken. 
 
   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. 
 
   WCP B weighs approximately 7,100 tonnes, including ballast, and 
measuring 24 metres high, 80 metres long, and 60 metres wide. It is the 
heaviest piece of mining equipment to be moved in Africa to date. With 
290 axles required to lift and transport WCP B, the move also represents 
the most SPMT axles used in Africa to date and one of the largest moves 
of a single piece of equipment in the world. The move was particularly 
unusual due to the combination of the weight of the load and the length 
of the distance travelled. 
 
   Statement from Michael Carvill, Managing Director: 
 
   "Moving the plant in one piece, an object weighing the equivalent of 550 
double decker buses, taller than a seven-story building and wider than a 
football pitch, is a huge achievement for our company. This type of 
relocation is rare in the mining industry, but it was the correct choice 
for Kenmare given the economic benefits and lower risk profile it 
provided, compared to the alternatives we considered. I would like to 
extend my congratulations and thanks to the Kenmare team on site and our 
specialist contractors for completing this record-breaking task safely 
and overcoming many challenges as a result of COVID-19. 
 
   Following the successful relocation, mining is on track to commence at 
the high grade Pilivili ore zone in mid-Q4 and we have taken a critical 
step towards achieving a run-rate of 1.2 million tonnes per annum of 
ilmenite production. As a result of this expanded production, we expect 
to be positioned in the first quartile of the revenue to cost curve, 
supporting stronger free cash flow generation and increased shareholder 
returns." 
 
   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 28, 2020 02:00 ET (06:00 GMT)

Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Mar 2024 to Apr 2024

Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Apr 2023 to Apr 2024