Kenmare Resources plc ("Kenmare" or "the Company")
7 August, 2007
Handover of Mineral Separation Plant at
Kenmare's Moma Mine
Three new sales contracts signed
Kenmare Resources announced today that it has issued a Taking-Over-Certificate for Phase 2 of the Moma Titanium Minerals Mine in northern Mozambique to the contractor building the project. Phase 2 includes the Mineral Separation Plant, product warehouse, mineral export facilities, and all related infrastructure. The Mineral Separation Plant is now under the control of Kenmare, operational, and producing final products which are being stored for shipment.
Mining and concentration operations commenced at Moma in late April. Since then a heavy mineral concentrate stockpile has been built up, ready for conversion into final products in the Minerals Separation Plant. Kenmare's customers are keenly awaiting delivery of product from Moma. The market for titanium minerals has become increasingly tight throughout the year. Three additional sales contracts have been signed in recent months.
The Bronagh J, a 4,000 tonne self-propelled transfer barge, is making final preparations to sail from Singapore to Moma. This barge will transfer products from Kenmare's jetty and self-discharge these mineral products into customer vessels moored offshore. The Taking-Over of the Bronagh J will complete handover of the core elements of the project.
Kenmare's Chairman, Charles Carvill said, "Now that we have control of the plant, we are phasing the second mining dredge into production earlier than anticipated to accelerate ramp up and to meet increasing customer demand."
For more information:
Kenmare Resources plc
Michael Carvill
Managing Director
Tel: + 353 1 671 0411
Mob: + 353 87 674 0110
Conduit PR Ltd
Jane Stacey
Tel: + 44 (0) 207 429 6606
Mob: + 44 (0) 792 292 3306
Murray Consultants Ltd
Elizabeth Headon
Tel: + 353 1 498 0300
Mob: + 353 87 989 7234