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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kenmare Resources Plc | LSE:KMR | London | Ordinary Share | IE00BDC5DG00 | ORD EUR0.001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.00 | 0.31% | 325.00 | 320.50 | 325.50 | 326.50 | 319.00 | 322.50 | 69,213 | 16:35:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKMR Kenmare Resources plc ("Kenmare" or "the Company") 28 November 2013 Moma Mine: WCP A Resumes Operations Kenmare announces that Wet Concentrator Plant A (WCP A) has returned to full production capability following successful completion of repairs to machinery which had sustained fire damage. Repair works on one of the two trommels was successfully completed as planned, and WCP A resumed production of Heavy Mineral Concentrate (HMC). Ore from both dredges is being fed through the repaired trommel. As WCP A can operate at capacity using only one trommel, the completion of this repair has allowed a rapid return to full operating capacity. Having closely reviewed the operation of the trommel, we are satisfied that the repairs have been completed successfully. Strong production levels from WCP A since re-commissioning, have rebuilt the HMC stockpile to 60,000 tonnes. Repair works on the second trommel are well advanced and scheduled to be complete on 30 November, in line with previous guidance. Whilst the trommels section repair works were underway, the Mineral Separation Plant continued to process HMC from Wet Concentrator Plant B (WCP B) and from a large stockpile of HMC that was produced prior to the incident. During this period, maintenance works on WCP A and the dredges in Mining Pond A that had been scheduled for 2014 were also accelerated and have now been completed. The fire occurred following completion of routine welding repairs. A review of hot works and safety procedures and how they were applied has been conducted and lessons learned from the incident have been incorporated into Kenmare's procedures. No injuries were suffered as a result of the incident. As previously reported in the Interim Management Statement, the Moma Mine has been subject to a number of unplanned power outages, rather than power dips as previously experienced. These power interruptions, which have continued to occur, impact production. The Mozambican Government is aware of the difficulties caused by the outages and is working proactively with Electricidade de Moçambique (EdM) to develop and implement solutions as a matter of priority. Kenmare continues to work closely with EdM to rectify these issues and continues to take actions to minimise the impact on production during this important quarter as expansion ramp up proceeds. For further information, please contact: Kenmare Resources plc Michael Carvill, Managing Director Tel: +353 1 671 0411 Mob: + 353 87 674 0110 Tony McCluskey, Financial Director Tel: +353 1 671 0411 Mob: + 353 87 674 0346 Virginia Skroski, Investor Relations Manager Tel: +353 1 671 0411 Mob: + 353 87 739 1103 Jacob Deysel, Operations Director Tel: +353 1 671 0411 Mob: + 353 87 613 9609 Murray Consultants Joe Heron Tel: +353 1 498 0300 Mob: +353 87 690 9735 Tavistock Communications Jos Simson / Mike Bartlett Tel: +44 207 920 3150 Mob: +44 7753 949 108 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Kenmare Resources via Globenewswire HUG#1746316 http://www.kenmareresources.com/
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